Key Points
- Director Joanna Burkey sold 9,943 shares of Bed Bath & Beyond on June 4 at an average price of $6.38, totaling about $63,436. The sale reduced her holding by 23.44% and was made under a pre-arranged Rule 10b5-1 plan.
- BBBY shares fell 6.2% and opened at $5.48, leaving the company with a market cap of about $405 million. The stock remains well below its 12-month high of $12.65, though above its low of $4.26.
- Analysts are mixed but cautious on the stock, with an average rating of “Hold” and a consensus target price of $8.00. Recent estimates included one Buy, three Hold, and one Sell rating.
Bed Bath & Beyond, Inc. (NYSE:BBBY - Get Free Report) Director Joanna Burkey sold 9,943 shares of the firm's stock in a transaction dated 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 owned 32,474 shares of the company's stock, valued at approximately $207,184.12. This represents a 23.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Bed Bath & Beyond Stock Down 6.2%
Shares of BBBY opened at $5.48 on Tuesday. The stock has a market cap of $405.19 million, a price-to-earnings ratio of -5.77 and a beta of 2.86. Bed Bath & Beyond, Inc. has a 12 month low of $4.26 and a 12 month high of $12.65. The company has a 50-day moving average price of $5.26 and a two-hundred day moving average price of $5.58.
Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last posted its earnings results on Monday, April 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.06. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%. The company had revenue of $248.00 million during the quarter.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in Bed Bath & Beyond by 20.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company's stock worth $140,000 after purchasing an additional 3,469 shares during the last quarter. Headlands Technologies LLC bought a new position in Bed Bath & Beyond in the 2nd quarter worth approximately $33,000. Public Employees Retirement System of Ohio bought a new position in Bed Bath & Beyond in the 4th quarter worth approximately $37,000. New York State Common Retirement Fund bought a new position in Bed Bath & Beyond in the 4th quarter worth approximately $47,000. Finally, WMG Financial Advisors LLC raised its position in Bed Bath & Beyond by 9.5% in the 1st quarter. WMG Financial Advisors LLC now owns 101,700 shares of the company's stock worth $472,000 after purchasing an additional 8,850 shares during the last quarter. Institutional investors own 76.30% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BBBY. Piper Sandler set a $8.00 target price on shares of Bed Bath & Beyond and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Wedbush reiterated an "outperform" rating and issued a $8.00 target price (up from $7.00) on shares of Bed Bath & Beyond in a research note on Tuesday, April 28th. Finally, Weiss Ratings cut shares of Bed Bath & Beyond from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.00.
Get Our Latest Stock Report on Bed Bath & Beyond
About Bed Bath & Beyond
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
