Bed Bath & Beyond, Inc. (NYSE:BBBY) Given Average Rating of “Hold” by Analysts

Bed Bath & Beyond, Inc. (NYSE:BBBY) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $9.00.

Several analysts have issued reports on BBBY shares. Barclays set a $8.00 target price on shares of Bed Bath & Beyond and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Wedbush reduced their target price on Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, January 21st.

Bed Bath & Beyond Stock Up 1.7%

Shares of BBBY opened at $5.25 on Friday. Bed Bath & Beyond has a twelve month low of $3.54 and a twelve month high of $12.65. The stock has a market cap of $361.52 million, a PE ratio of -1.87 and a beta of 2.99. The business’s 50-day moving average price is $6.02 and its 200-day moving average price is $7.53.

Institutional Investors Weigh In On Bed Bath & Beyond

Several hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC raised its position in shares of Bed Bath & Beyond by 19.4% during the 2nd quarter. ProShare Advisors LLC now owns 518,173 shares of the company’s stock valued at $3,565,000 after buying an additional 84,356 shares in the last quarter. Geode Capital Management LLC increased its stake in Bed Bath & Beyond by 20.5% in the second quarter. Geode Capital Management LLC now owns 1,241,524 shares of the company’s stock valued at $8,543,000 after acquiring an additional 211,446 shares during the last quarter. Fund 1 Investments LLC purchased a new stake in Bed Bath & Beyond during the second quarter valued at about $1,184,000. AXQ Capital LP purchased a new stake in Bed Bath & Beyond during the second quarter valued at about $354,000. Finally, Intech Investment Management LLC lifted its stake in Bed Bath & Beyond by 45.3% during the second quarter. Intech Investment Management LLC now owns 42,087 shares of the company’s stock worth $290,000 after purchasing an additional 13,120 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.