Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives Average Recommendation of “Hold” from Brokerages

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $10.20.

A number of research firms have recently commented on BBBY. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Bed Bath & Beyond in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, January 21st. Finally, Barclays set a $8.00 price target on shares of Bed Bath & Beyond and gave the company an “equal weight” rating in a research note on Tuesday, October 28th.

Bed Bath & Beyond Price Performance

BBBY stock opened at $6.13 on Tuesday. Bed Bath & Beyond has a fifty-two week low of $3.54 and a fifty-two week high of $12.65. The business has a 50-day moving average of $6.27 and a 200-day moving average of $7.94. The stock has a market capitalization of $422.32 million, a P/E ratio of -2.18 and a beta of 2.99.

Hedge Funds Weigh In On Bed Bath & Beyond

Several hedge funds and other institutional investors have recently made changes to their positions in BBBY. Ameritas Investment Partners Inc. increased its stake in Bed Bath & Beyond by 25.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock valued at $39,000 after acquiring an additional 1,133 shares during the last quarter. Haven Private LLC raised its holdings in shares of Bed Bath & Beyond by 10.8% during the 2nd quarter. Haven Private LLC now owns 13,620 shares of the company’s stock worth $94,000 after buying an additional 1,325 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Bed Bath & Beyond by 85.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock worth $25,000 after buying an additional 1,669 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Bed Bath & Beyond by 33.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company’s stock valued at $51,000 after buying an additional 1,828 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Bed Bath & Beyond by 20.6% in the second quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock valued at $140,000 after acquiring an additional 3,469 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.

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.