Joseph Tabacco Jr Acquires 20,000 Shares of Bed Bath & Beyond (NYSE:BBBY) Stock

Bed Bath & Beyond, Inc. (NYSE:BBBY) Director Joseph Tabacco, Jr. purchased 20,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $5.11 per share, for a total transaction of $102,200.00. Following the acquisition, the director owned 167,209 shares in the company, valued at $854,437.99. This trade represents a 13.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Bed Bath & Beyond Stock Performance

Shares of NYSE BBBY traded down $0.28 during midday trading on Thursday, hitting $4.60. 2,515,561 shares of the company traded hands, compared to its average volume of 1,759,282. Bed Bath & Beyond, Inc. has a 12-month low of $3.54 and a 12-month high of $12.65. The stock has a 50-day moving average price of $5.85 and a 200 day moving average price of $7.17. The firm has a market cap of $317.10 million, a P/E ratio of -3.17 and a beta of 3.02.

Bed Bath & Beyond (NYSE:BBBY) last announced its earnings results on Monday, February 23rd. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.07. Bed Bath & Beyond had a negative net margin of 8.10% and a negative return on equity of 33.44%. The firm had revenue of $273.43 million for the quarter. As a group, equities analysts expect that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current year.

Institutional Investors Weigh In On Bed Bath & Beyond

A number of large investors have recently modified their holdings of BBBY. Virtu Financial LLC acquired a new position in shares of Bed Bath & Beyond in the 4th quarter valued at $221,000. Invesco Ltd. acquired a new position in shares of Bed Bath & Beyond in the 4th quarter valued at $296,000. XTX Topco Ltd acquired a new stake in shares of Bed Bath & Beyond during the 4th quarter valued at about $112,000. nVerses Capital LLC purchased a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $70,000. Finally, Polymer Capital Management US LLC acquired a new position in Bed Bath & Beyond during the fourth quarter worth $422,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Piper Sandler set a $8.00 price target on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a report on Tuesday, February 24th. Wedbush cut their price target on Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.00.

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.