Bed Bath & Beyond (NYSE:BBBY) Trading 7.3% Higher – Here’s What Happened

Bed Bath & Beyond, Inc. (NYSE:BBBY)’s share price traded up 7.3% on Thursday . The stock traded as high as $7.38 and last traded at $7.3180. 538,637 shares traded hands during trading, a decline of 75% from the average session volume of 2,129,643 shares. The stock had previously closed at $6.82.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BBBY shares. Barclays set a $8.00 price objective on shares of Bed Bath & Beyond and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Bed Bath & Beyond in a research note on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bed Bath & Beyond has a consensus rating of “Hold” and an average target price of $10.20.

Bed Bath & Beyond Price Performance

The business has a fifty day moving average of $6.12 and a 200-day moving average of $8.01. The stock has a market capitalization of $496.16 million, a price-to-earnings ratio of -2.57 and a beta of 2.85.

Institutional Trading of Bed Bath & Beyond

A number of large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted its position in shares of Bed Bath & Beyond by 25.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock valued at $39,000 after acquiring an additional 1,133 shares during the last quarter. Haven Private LLC boosted its position in shares of Bed Bath & Beyond by 10.8% in the 2nd quarter. Haven Private LLC now owns 13,620 shares of the company’s stock valued at $94,000 after purchasing an additional 1,325 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of 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 purchasing an additional 1,669 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Bed Bath & Beyond by 33.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company’s stock valued at $51,000 after purchasing an additional 1,828 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Bed Bath & Beyond by 20.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock worth $140,000 after purchasing an additional 3,469 shares in the last quarter. 76.30% of the stock is currently owned by institutional investors.

Bed Bath & Beyond Company Profile

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.