Bed Bath & Beyond Inc. (NASDAQ: BBBY) Executive Vice President Joseph G. Hartsig sold 9,834 shares of the company in a trade on Friday, July 2. The shares were sold for an average price of $ 31.65, for a total value of $ 311,246.10. The sale was disclosed in a legal file with the SEC, which can be accessed via this link.
NASDAQ BBBY traded at $ 1.43 in Wednesday’s session, reaching $ 28.85. The company’s shares had a trading volume of 3,384,070 shares, compared to its average volume of 10,366,598. The company has a current ratio of 1.56, a quick ratio of 0.80 and a ratio of debt of 1.07. The company has a market cap of $ 3.02 billion, a P / E ratio of 40.92 and a beta of 1.84. The company’s 50-day moving average is $ 28.35. Bed Bath & Beyond Inc. has a fifty-two week minimum of $ 7.39 and a week maximum of $ 52.90.
Bed Bath & Beyond (NASDAQ: BBBY) last released its quarterly results on Tuesday, June 29. The retailer reported earnings per share of $ 0.05 for the quarter, missing the consensus estimate of $ 0.08 of ($ 0.03). The company posted revenue of $ 1.95 billion in the quarter, compared to analyst estimates of $ 1.87 billion. Bed Bath & Beyond recorded a return on equity of 9.10% and a net margin of 1.02%. Bed Bath & Beyond’s revenue increased 49.5% compared to the same quarter last year. During the same period of the previous year, the company posted EPS ($ 1.96). On average, research analysts predict that Bed Bath & Beyond Inc. will post 1.53 earnings per share for the current fiscal year.
Institutional investors have recently increased or reduced their holdings in the stock. Quinn Opportunity Partners LLC acquired a new equity stake in Bed Bath & Beyond during the first quarter valued at approximately $ 7,343,000. Edgestream Partners LP acquired a new equity stake in Bed Bath & Beyond during the fourth quarter valued at approximately $ 2,213,000. BNP Paribas Arbitrage SA increased its stake in Bed Bath & Beyond shares by 40.3% during the first quarter. BNP Paribas Arbitrage SA now holds 180,153 distributor shares for a value of $ 5,251,000 after purchasing an additional 51,780 shares during the period. Optiver Holding BV acquired a new stake in the shares of Bed Bath & Beyond during the first quarter for a value of approximately $ 1,364,000. Finally, the Tennessee State Department of the Treasury increased its stake in Bed Bath & Beyond shares by 59.9% during the first quarter. The Tennessee State Department of the Treasury now owns 72,355 shares of the retailer valued at $ 2,109,000 after purchasing an additional 27,099 shares during the period. 94.82% of the shares are held by hedge funds and other institutional investors.
BBBY has been the subject of several research reports. Zacks investment research upgraded Bed Bath & Beyond from a “keep” rating to a “buy” rating and set a price target of $ 29.00 on the stock in a research note on Tuesday, June 22. Robert W. Baird raised his price target on Bed Bath & Beyond from $ 30.00 to $ 33.00 and gave the company a “neutral” rating in a research note on Thursday, July 1. B. Riley resumed coverage of Bed Bath & Beyond in a research report on Thursday, July 1. They set a “buy” rating and a price target of $ 44.00 on the stock. JPMorgan Chase & Co. raised its price target on Bed Bath & Beyond from $ 23.00 to $ 29.00 and gave the company a “neutral” rating in a research report on Monday, April 19. Finally, Telsey Advisory Group raised its price target on Bed Bath & Beyond from $ 30.00 to $ 35.00 and gave the company a “market performance” rating in a research report on Thursday, July 1. Three research analysts rated the stock with a sell rating, nine assigned a conservation rating, and five gave the company a buy rating. Bed Bath & Beyond currently has an average “Hold” rating and an average price target of $ 27.86.
About Bed Bath & Beyond
Bed Bath & Beyond Inc, along with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American retail sales and institutional sales. The company sells a range of household products, including bed linen and related items, bath items and kitchen textiles; and home furnishings, such as kitchen and tableware, fine tableware, basic household items, general furnishings, consumables and various children’s products.
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