Bed Bath & Beyond (NYSE:BBBY) Director Sells $63,436.34 in Stock

Bed Bath & Beyond, Inc. (NYSE:BBBY) Director Joanna Burkey sold 9,943 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.38, for a total value of $63,436.34. Following the transaction, the director directly owned 32,474 shares in the company, valued at approximately $207,184.12. This represents a 23.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bed Bath & Beyond Stock Performance

NYSE BBBY opened at $5.57 on Thursday. The company has a market cap of $411.83 million, a P/E ratio of -5.86 and a beta of 2.86. The business’s 50 day moving average price is $5.31 and its 200-day moving average price is $5.58. Bed Bath & Beyond, Inc. has a fifty-two week low of $4.26 and a fifty-two week high of $12.65.

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

Institutional Investors Weigh In On Bed Bath & Beyond

Several hedge funds have recently made changes to their positions in BBBY. AQR Capital Management LLC lifted its holdings in shares of Bed Bath & Beyond by 217.4% in the 1st quarter. AQR Capital Management LLC now owns 131,501 shares of the company’s stock worth $763,000 after buying an additional 90,076 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Bed Bath & Beyond by 30.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company’s stock worth $386,000 after buying an additional 15,707 shares during the period. Strs Ohio purchased a new stake in shares of Bed Bath & Beyond in the 1st quarter worth $151,000. Rhumbline Advisers lifted its holdings in shares of Bed Bath & Beyond by 38.9% in the 2nd quarter. Rhumbline Advisers now owns 97,453 shares of the company’s stock worth $670,000 after buying an additional 27,286 shares during the period. Finally, Sei Investments Co. purchased a new stake in shares of Bed Bath & Beyond in the 2nd quarter worth $378,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings cut Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Wedbush restated an “outperform” rating and set a $8.00 price objective (up from $7.00) on shares of Bed Bath & Beyond in a report on Tuesday, April 28th. Finally, Piper Sandler set a $8.00 price objective on Bed Bath & Beyond and gave the company a “neutral” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.00.

Bed Bath & Beyond Company Profile

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.