Bed Bath & Beyond (NYSE:BBBY – Get Free Report) had its price objective hoisted by investment analysts at Wedbush from $8.00 to $10.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 70.21% from the stock’s previous close.
A number of other analysts also recently weighed in on BBBY. Weiss Ratings downgraded Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Piper Sandler set a $8.00 price target on Bed Bath & Beyond and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $8.67.
Get Our Latest Stock Report on BBBY
Bed Bath & Beyond Trading Down 0.9%
Bed Bath & Beyond (NYSE:BBBY – Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.06. The business had revenue of $248.00 million during the quarter. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.
Insiders Place Their Bets
In related news, Director Joanna M. Burkey sold 9,943 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total transaction of $63,436.34. Following the sale, the director owned 32,474 shares in the company, valued at $207,184.12. The trade was a 23.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is owned by corporate insiders.
Institutional Trading of Bed Bath & Beyond
Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Bed Bath & Beyond during the second quarter worth about $33,000. Public Employees Retirement System of Ohio bought a new position in Bed Bath & Beyond in the 4th quarter valued at approximately $37,000. New York State Common Retirement Fund acquired a new stake in Bed Bath & Beyond during the 4th quarter worth approximately $47,000. Stockman Wealth Management Inc. acquired a new stake in Bed Bath & Beyond during the 4th quarter worth approximately $55,000. Finally, ExodusPoint Capital Management LP bought a new stake in Bed Bath & Beyond during the 4th quarter worth approximately $63,000. 76.30% of the stock is 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.
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