Bed Bath & Beyond, Inc. (NYSE:BBBY) Given Consensus Recommendation of “Hold” by Brokerages

Bed Bath & Beyond, Inc. (NYSE:BBBY) has been given an average recommendation of “Hold” by the six research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $10.20.

BBBY has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Bed Bath & Beyond in a research note on Tuesday, October 21st. Barclays set a $8.00 price target on Bed Bath & Beyond and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bed Bath & Beyond in a research report on Wednesday, January 21st.

Institutional Investors Weigh In On Bed Bath & Beyond

A number of large investors have recently added to or reduced their stakes in BBBY. ProShare Advisors LLC lifted its holdings in Bed Bath & Beyond by 19.4% in the 2nd quarter. ProShare Advisors LLC now owns 518,173 shares of the company’s stock worth $3,565,000 after buying an additional 84,356 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Bed Bath & Beyond by 20.5% during 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 in the last quarter. Fund 1 Investments LLC purchased a new stake in shares of Bed Bath & Beyond during the second quarter worth about $1,184,000. AXQ Capital LP acquired a new position in shares of Bed Bath & Beyond in the second quarter worth about $354,000. Finally, WMG Financial Advisors LLC boosted its holdings in Bed Bath & Beyond by 189.2% in the second quarter. WMG Financial Advisors LLC now owns 53,350 shares of the company’s stock valued at $367,000 after purchasing an additional 34,900 shares during the last quarter. 76.30% of the stock is owned by institutional investors and hedge funds.

Bed Bath & Beyond Trading Down 1.0%

Shares of NYSE BBBY opened at $6.80 on Tuesday. Bed Bath & Beyond has a 12-month low of $3.54 and a 12-month high of $12.65. The company has a market cap of $468.25 million, a P/E ratio of -2.42 and a beta of 2.85. The stock has a fifty day moving average price of $6.20 and a 200 day moving average price of $7.99.

About Bed Bath & Beyond

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.