Stock Traders Buy Large Volume of Call Options on Bed Bath & Beyond (NASDAQ:BBBY)


Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) saw unusually large options trading activity on Monday. Stock investors acquired 91,968 call options on the stock. This is an increase of approximately 54% compared to the average daily volume of 59,612 call options.

Insider Buying and Selling

In other news, CEO Sue Gove bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was bought at an average price of $4.61 per share, with a total value of $230,500.00. Following the acquisition, the chief executive officer now owns 105,587 shares of the company’s stock, valued at approximately $486,756.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sue Gove purchased 50,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were acquired at an average price of $4.61 per share, for a total transaction of $230,500.00. Following the purchase, the chief executive officer now directly owns 105,587 shares in the company, valued at $486,756.07. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeff Kirwan purchased 10,000 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was bought at an average price of $4.90 per share, for a total transaction of $49,000.00. Following the purchase, the director now owns 43,455 shares in the company, valued at $212,929.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 62,000 shares of company stock valued at $288,720. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC purchased a new position in shares of Bed Bath & Beyond during the first quarter worth $64,000. BDO Wealth Advisors LLC raised its holdings in shares of Bed Bath & Beyond by 1,836.7% during the first quarter. BDO Wealth Advisors LLC now owns 2,905 shares of the retailer’s stock worth $65,000 after purchasing an additional 2,755 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Bed Bath & Beyond during the 1st quarter valued at about $92,000. National Bank of Canada FI acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at approximately $70,000. Finally, Covestor Ltd grew its stake in Bed Bath & Beyond by 15,521.2% in the 1st quarter. Covestor Ltd now owns 5,155 shares of the retailer’s stock valued at $116,000 after acquiring an additional 5,122 shares during the period.

Bed Bath & Beyond Price Performance

Shares of BBBY stock opened at $5.77 on Tuesday. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.02 and a quick ratio of 0.15. The company has a market capitalization of $461.37 million, a P/E ratio of -0.59 and a beta of 1.90. The company’s 50-day simple moving average is $6.32 and its two-hundred day simple moving average is $13.06. Bed Bath & Beyond has a one year low of $4.38 and a one year high of $30.14.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last released its quarterly earnings data on Wednesday, June 29th. The retailer reported ($2.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.33) by ($1.50). Bed Bath & Beyond had a negative net margin of 11.74% and a negative return on equity of 90.91%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business posted $0.05 earnings per share. Bed Bath & Beyond’s revenue for the quarter was down 25.1% on a year-over-year basis. As a group, equity analysts anticipate that Bed Bath & Beyond will post -5.93 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on BBBY shares. KeyCorp decreased their target price on shares of Bed Bath & Beyond from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 28th. The Goldman Sachs Group decreased their target price on shares of Bed Bath & Beyond from $14.00 to $7.00 and set a “sell” rating on the stock in a research report on Thursday, April 14th. B. Riley decreased their target price on shares of Bed Bath & Beyond from $7.00 to $5.00 in a research report on Thursday, June 30th. Wedbush decreased their target price on shares of Bed Bath & Beyond to $5.00 in a research report on Monday, July 4th. Finally, Wells Fargo & Company decreased their target price on shares of Bed Bath & Beyond from $10.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 8th. Nine equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $6.67.

Bed Bath & Beyond Company Profile

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Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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