Wedbush Cuts Bed Bath & Beyond (NYSE:BBBY) Price Target to $7.00

Bed Bath & Beyond (NYSE:BBBY) had its price target lowered by equities research analysts at Wedbush from $13.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 40.85% from the stock’s previous close.

BBBY has been the subject of a number of other reports. Barclays set a $8.00 price target on shares of Bed Bath & Beyond and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Bed Bath & Beyond currently has an average rating of “Hold” and a consensus price target of $9.00.

Bed Bath & Beyond Trading Down 0.4%

Shares of Bed Bath & Beyond stock opened at $4.97 on Wednesday. The firm has a fifty day simple moving average of $6.10 and a 200-day simple moving average of $7.58. The stock has a market capitalization of $342.25 million, a price-to-earnings ratio of -1.77 and a beta of 2.99. Bed Bath & Beyond has a 1-year low of $3.54 and a 1-year high of $12.65.

Institutional Trading of Bed Bath & Beyond

Several institutional investors have recently made changes to their positions in BBBY. AQR Capital Management LLC lifted its stake in Bed Bath & Beyond by 217.4% during the first quarter. AQR Capital Management LLC now owns 131,501 shares of the company’s stock worth $763,000 after purchasing an additional 90,076 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Bed Bath & Beyond by 30.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company’s stock worth $386,000 after buying an additional 15,707 shares in the last quarter. Strs Ohio bought a new position in shares of Bed Bath & Beyond during the 1st quarter worth approximately $151,000. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 worth $51,000 after buying an additional 1,828 shares during the period. Finally, 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 valued at $25,000 after buying an additional 1,669 shares in the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.

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.