Bed Bath & Beyond (NYSE:BBBY) Releases Earnings Results

Bed Bath & Beyond (NYSE:BBBY) posted its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.07, Zacks reports. The firm had revenue of $273.43 million during the quarter. Bed Bath & Beyond had a negative return on equity of 36.53% and a negative net margin of 8.10%.

Bed Bath & Beyond Stock Up 9.2%

NYSE BBBY opened at $5.54 on Wednesday. The company has a 50-day moving average price of $5.98 and a 200-day moving average price of $7.48. Bed Bath & Beyond has a 52 week low of $3.54 and a 52 week high of $12.65. The firm has a market capitalization of $381.21 million, a P/E ratio of -3.82 and a beta of 2.99.

Institutional Trading of Bed Bath & Beyond

Several large investors have recently added to or reduced their stakes in BBBY. Headlands Technologies LLC bought a new position in Bed Bath & Beyond in the second quarter worth approximately $33,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Bed Bath & Beyond in the 4th quarter worth $37,000. New York State Common Retirement Fund purchased a new stake in shares of Bed Bath & Beyond in the 4th quarter worth $47,000. Engineers Gate Manager LP bought a new position in Bed Bath & Beyond in the 4th quarter worth $63,000. Finally, ExodusPoint Capital Management LP purchased a new position in Bed Bath & Beyond during the fourth quarter valued at $63,000. 76.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wedbush reduced their price objective 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. Barclays set a $8.00 price target on shares of Bed Bath & Beyond and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Piper Sandler set a $8.00 price objective on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.83.

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.