BlackRock Fund Advisors recently announced the acquisition of new stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 37.48% to 18.16 million shares with purchase of 4.95 million shares. This fresh investment now brings its stake to 14.41% valued currently at $196.49 million. In addition, Fidelity Management & Research Co.. raised its holdings by 0.68 million to 15.37 million shares. And The Vanguard Group, Inc. has lifted its position by 7.42% or 0.87 million shares – to 12.6 million shares.
With over 9.21 million Bed Bath & Beyond Inc. (BBBY) shares trading Tuesday and a closing price of $13.04 on the day, the dollar volume was approximately $120.09 million. The shares have shown a positive weekly performance of 5.84% and its price on 09/01/20 gained nearly 7.06%. Currently, there are 123.70M common shares owned by the public and among those 118.74M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for BBBY have a consensus price objective of $10.23. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Bed Bath & Beyond Inc. stock is 2.80 for the next 12 months. The average price target is -22.79% below its last price level and a downside to the estimated low will see the stock lose -160.8% over that period. But an upside of 18.5% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 3,025,214 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 216,193 shares.
The top 3 mutual fund holders in Bed Bath & Beyond Inc. are Fidelity Low Priced Stock Fund, Contrarius ICAV – Global Equity F, and iShares Core S&P Small Cap ETF. Fidelity Low Priced Stock Fund owns 11.12 million shares of the company’s stock, all valued at over $120.35 million. The company sold -0.11 million shares recently to bring their total holdings to about 8.82% of the shares outstanding. Contrarius ICAV – Global Equity F sold 17089.0 shares to see its total holdings shrink to 10.91 million shares valued at over $118.07 million and representing 8.66% of the shares outstanding. iShares Core S&P Small Cap ETF bought 49648.0 shares to bring its total holdings to over 7.9 million shares at a value of $85.47 million. iShares Core S&P Small Cap ETF now owns shares totaling to 6.27% of the shares outstanding.
Shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY) opened at $12.078, down -$0.1 from a prior closing price of $12.18. However, the script later closed the day at $13.04, up 7.06%. The company’s stock has a 5-day price change of 5.84% and 61.39% over the past three months. BBBY shares are trading -24.62% year to date (YTD), with the 12-month market performance up to 39.76% higher. It has a 12-month low price of $3.43 and touched a high of $17.79 over the same period. Currently, 9.21 million shares have been traded, compared to an average intraday trading volume of 11.62 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.74%, 21.11%, and 23.56% respectively.
Institutional ownership of Bed Bath & Beyond Inc. (NASDAQ: BBBY) 123.70M shares outstanding. Mutual fund holders own 6.32%, while other institutional holders and individual stakeholders account for 63.87% and 47.75% respectively.
It has a market capitalization of $1.62B and a beta (3y monthly) value of 2.55. The earnings-per-share (ttm) stands at -$4.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.08% over the week and 5.24% over the month.
Analysts forecast that Bed Bath & Beyond Inc. (BBBY) will achieve an EPS of -$0.32 for the current quarter, -$0.45 for the next quarter and -$0.24 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.7 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.34 a year ago. Earnings per share for the fiscal year are expected to decrease by -383.10%, and 90.20% over the next financial year. EPS should grow at an annualized rate of 65.00% over the next five years, compared to -24.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Bed Bath & Beyond Inc. (BBBY) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 12 of the 19 advise that investors “hold,” and 4 rated it as a “Sell.”
Looking at the support for the BBBY, a number of firms have released research notes about the stock. Odeon stated their Buy rating for the stock in a research note on May 26, 2020, with the firm’s price target at. Telsey Advisory Group coverage for the Bed Bath & Beyond Inc. (BBBY) stock in a research note released on April 03, 2020 offered a Market Perform rating with a price target of $4. Telsey Advisory Group was of a view on March 23, 2020 that the stock is Market Perform, while Odeon gave the stock Hold rating on March 23, 2020, issuing a price target of. KeyBanc Capital Markets on their part issued Sector Weight rating on March 20, 2020.