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

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have received an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.20.

BBBY has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Bed Bath & Beyond in a report on Tuesday, October 21st. Finally, Barclays set a $8.00 target price on Bed Bath & Beyond and gave the company an “equal weight” rating in a research report on Tuesday, October 28th.

Bed Bath & Beyond Price Performance

Shares of NYSE:BBBY opened at $6.34 on Monday. Bed Bath & Beyond has a one year low of $3.54 and a one year high of $12.65. The company has a market cap of $436.16 million, a price-to-earnings ratio of -2.25 and a beta of 2.77. The firm has a 50 day simple moving average of $7.34 and a 200 day simple moving average of $8.07.

Institutional Investors Weigh In On Bed Bath & Beyond

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Bed Bath & Beyond by 20.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,241,524 shares of the company’s stock valued at $8,543,000 after acquiring an additional 211,446 shares during the period. ProShare Advisors LLC grew its stake in shares of Bed Bath & Beyond by 19.4% in the second quarter. ProShare Advisors LLC now owns 518,173 shares of the company’s stock worth $3,565,000 after purchasing an additional 84,356 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Bed Bath & Beyond in the second quarter valued at $3,414,000. Nuveen LLC acquired a new stake in Bed Bath & Beyond in the first quarter valued at $2,256,000. Finally, Jump Financial LLC acquired a new stake in Bed Bath & Beyond in the first quarter valued at $2,118,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Bed Bath & Beyond Company Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.