Bed Bath & Beyond (NYSE:BBBY) Given New $7.00 Price Target at Wedbush

Bed Bath & Beyond (NYSE:BBBY) had its target price decreased by Wedbush from $13.00 to $7.00 in a research report released on Wednesday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other brokerages also recently commented on BBBY. Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, January 21st. Barclays set a $8.00 price target on Bed Bath & Beyond and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Bed Bath & Beyond Price Performance

BBBY opened at $5.06 on Wednesday. Bed Bath & Beyond has a fifty-two week low of $3.54 and a fifty-two week high of $12.65. The firm has a market capitalization of $348.09 million, a PE ratio of -1.80 and a beta of 2.99. The company’s 50-day moving average is $6.07 and its 200 day moving average is $7.57.

Hedge Funds Weigh In On Bed Bath & Beyond

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its position in shares of Bed Bath & Beyond by 25.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock worth $39,000 after purchasing an additional 1,133 shares in the last quarter. Haven Private LLC lifted its holdings in Bed Bath & Beyond by 10.8% in the 2nd quarter. Haven Private LLC now owns 13,620 shares of the company’s stock worth $94,000 after purchasing an additional 1,325 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Bed Bath & Beyond by 85.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock worth $25,000 after purchasing an additional 1,669 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Bed Bath & Beyond by 33.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company’s stock valued at $51,000 after buying an additional 1,828 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Bed Bath & Beyond by 20.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock valued at $140,000 after buying an additional 3,469 shares in the last quarter. 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.