Bed Bath & Beyond (NYSE:BBBY) Posts Earnings Results, Beats Expectations By $0.07 EPS

Bed Bath & Beyond (NYSE:BBBY) issued its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07, Zacks reports. Bed Bath & Beyond had a negative net margin of 13.50% and a negative return on equity of 57.26%. The company had revenue of $273.43 million for the quarter.

Bed Bath & Beyond Stock Down 3.4%

Shares of NYSE:BBBY traded down $0.18 during midday trading on Monday, reaching $5.05. The company’s stock had a trading volume of 1,847,953 shares, compared to its average volume of 1,922,502. The firm has a 50 day moving average of $6.02 and a 200-day moving average of $7.52. The firm has a market capitalization of $347.88 million, a P/E ratio of -1.80 and a beta of 2.99. Bed Bath & Beyond has a 12-month low of $3.54 and a 12-month high of $12.65.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BBBY. Barclays set a $8.00 target price on shares of Bed Bath & Beyond and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, January 21st. Finally, Wedbush dropped their price target on Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Hedge Funds Weigh In On Bed Bath & Beyond

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in shares of Bed Bath & Beyond by 217.4% in the first quarter. AQR Capital Management LLC now owns 131,501 shares of the company’s stock worth $763,000 after acquiring an additional 90,076 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Bed Bath & Beyond by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company’s stock valued at $386,000 after buying an additional 15,707 shares during the last quarter. Strs Ohio bought a new position in Bed Bath & Beyond in the first quarter valued at about $151,000. Rhumbline Advisers lifted its stake 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 purchasing an additional 27,286 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of Bed Bath & Beyond in the second quarter worth approximately $378,000. Institutional investors own 76.30% of the company’s stock.

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.