Wedbush Trims Bed Bath & Beyond (BBBY) Target Price to $22.26

Bed Bath & Beyond (NASDAQ:BBBY) had its price objective reduced by equities researchers at Wedbush from $23.00 to $22.26 in a research report issued on Tuesday. The firm currently has a “neutral” rating on the retailer’s stock. Wedbush’s price objective would indicate a potential upside of 1.04% from the company’s current price.

Several other brokerages also recently issued reports on BBBY. ValuEngine downgraded shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Loop Capital set a $23.00 target price on shares of Bed Bath & Beyond and gave the company a “hold” rating in a research note on Thursday, January 4th. Moffett Nathanson started coverage on shares of Bed Bath & Beyond in a research note on Monday, December 4th. They set a “neutral” rating on the stock. BidaskClub downgraded shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Morgan Stanley set a $22.00 target price on shares of Bed Bath & Beyond and gave the company a “sell” rating in a research note on Thursday, December 21st. Nine equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $25.35.

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Bed Bath & Beyond (BBBY) traded up $0.28 during midday trading on Tuesday, hitting $22.03. The company’s stock had a trading volume of 940,617 shares, compared to its average volume of 3,447,321. The company has a market capitalization of $3,170.11, a PE ratio of 6.34, a P/E/G ratio of -4.03 and a beta of 1.10. Bed Bath & Beyond has a 52 week low of $19.07 and a 52 week high of $40.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.31.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, December 20th. The retailer reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. Bed Bath & Beyond had a net margin of 4.11% and a return on equity of 19.07%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned $0.85 EPS. The company’s revenue was down 1.4% on a year-over-year basis. sell-side analysts predict that Bed Bath & Beyond will post 3.01 earnings per share for the current year.

In other news, VP Matthew Fiorilli sold 16,957 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $22.62, for a total transaction of $383,567.34. Following the transaction, the vice president now directly owns 97,419 shares in the company, valued at approximately $2,203,617.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC grew its holdings in shares of Bed Bath & Beyond by 12.5% during the 4th quarter. Spark Investment Management LLC now owns 469,300 shares of the retailer’s stock valued at $10,319,000 after acquiring an additional 52,100 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Bed Bath & Beyond by 92.3% during the 3rd quarter. Commonwealth Bank of Australia now owns 160,606 shares of the retailer’s stock valued at $3,765,000 after acquiring an additional 77,095 shares in the last quarter. Lingohr & Partner Asset Management GmbH grew its holdings in shares of Bed Bath & Beyond by 20.0% during the 4th quarter. Lingohr & Partner Asset Management GmbH now owns 48,538 shares of the retailer’s stock valued at $1,067,000 after acquiring an additional 8,100 shares in the last quarter. Towle & Co. purchased a new position in shares of Bed Bath & Beyond during the 4th quarter valued at $22,398,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Bed Bath & Beyond by 19.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 294,593 shares of the retailer’s stock valued at $6,914,000 after acquiring an additional 48,166 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

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About Bed Bath & Beyond

Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).

Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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