Bed Bath & Beyond (BBBY:NSD) faced a continued decline in pre-market trading on Monday, following the company’s announcement that it intends to hold a special shareholder meeting. The purpose of the meeting is to seek approval for a proposed reverse stock split in the range of 1-for-5 to 1-for-10. According to the company, only shareholders who hold a record of the Common Stock as of the close of business on March 27, 2023, will be entitled to receive notice and vote at the special meeting. This move has resulted in a negative reaction from investors, leading to a drop in Bed Bath & Beyond stock shares.
Bed Bath & Beyond Stock Forecast:
Based on the Bed Bath & Beyond stock forecast from 11 analysts, the average analyst target price for Bed Bath & Beyond Inc is USD 2.54 over the next 12 months. Bed Bath & Beyond Inc’s average analyst rating is Sell.
Stock Target Advisor’s own stock analysis of Bed Bath & Beyond Inc is Bearish, which is based on 1 positive signal and 8 negative signals. At the last closing, BBBY stock price was USD 1.03. Bed Bath & Beyond Inc’s stock price has changed by -23.13% over the past week, -43.09% over the past month, and -95.33% over the last year.
Company Profile:
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. The company operates stores under the name Bed Bath & Beyond, buybuy BABY, Harmon, Harmon Face Values or Face Values.
It also offers products through various Websites and applications comprising bedbathandbeyond.com, bedbathandbeyond.ca, harmondiscount.com, facevalues.com, buybuybaby.com, buybuybaby.ca, and decorist.com. In addition, the company operates Decorist, an online interior design platform that provides personalized home design services. Bed Bath & Beyond Inc. was incorporated in 1971 and is headquartered in Union, New Jersey.
