Bed Bath & Beyond (NYSE:BBBY) Director Joanna Burkey Sells 9,943 Shares of Stock

Bed Bath & Beyond, Inc. (NYSE:BBBY) Director Joanna Burkey sold 9,943 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total transaction of $63,436.34. Following the transaction, the director directly owned 32,474 shares in the company, valued at $207,184.12. The trade was a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bed Bath & Beyond Stock Performance

BBBY opened at $5.48 on Tuesday. The company has a market cap of $405.19 million, a PE ratio of -5.77 and a beta of 2.86. The stock has a 50-day moving average of $5.26 and a 200-day moving average of $5.58. Bed Bath & Beyond, Inc. has a 52-week low of $4.26 and a 52-week high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings data on Monday, April 27th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.The business had revenue of $248.00 million for the quarter.

Wall Street Analysts Forecast Growth

BBBY has been the subject of a number of recent analyst reports. 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. Weiss Ratings downgraded Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $8.00 price target (up from $7.00) on shares of Bed Bath & Beyond in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.00.

Hedge Funds Weigh In On Bed Bath & Beyond

Hedge funds have recently made changes to their positions in the business. Able Wealth Management LLC acquired a new position in shares of Bed Bath & Beyond in the 4th quarter valued at $4,612,000. WMG Financial Advisors LLC bought a new position in Bed Bath & Beyond during the fourth quarter worth about $507,000. GSA Capital Partners LLP bought a new position in Bed Bath & Beyond during the fourth quarter worth about $920,000. ProShare Advisors LLC bought a new position in Bed Bath & Beyond during the fourth quarter worth about $3,290,000. Finally, Lane Brothers & Co. Inc. bought a new position in Bed Bath & Beyond during the fourth quarter worth about $142,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

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.