Bed Bath & Beyond Inc. (NASDAQ:BBBY) – Investment analysts at Wedbush lowered their Q1 2018 earnings per share estimates for shares of Bed Bath & Beyond in a research report issued to clients and investors on Thursday, Zacks Investment Research reports. Wedbush analyst S. Basham now forecasts that the retailer will post earnings per share of $0.68 for the quarter, down from their prior forecast of $0.78. Wedbush has a “Neutral” rating and a $38.00 price target on the stock. Wedbush also issued estimates for Bed Bath & Beyond’s Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $0.73 EPS, Q4 2018 earnings at $1.93 EPS, FY2018 earnings at $4.30 EPS, Q1 2019 earnings at $0.72 EPS, Q2 2019 earnings at $1.03 EPS, Q3 2019 earnings at $0.71 EPS, Q4 2019 earnings at $1.88 EPS and FY2019 earnings at $4.30 EPS.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Bed Bath & Beyond from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Credit Suisse Group AG dropped their price target on shares of Bed Bath & Beyond from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, April 7th. Citigroup Inc dropped their price target on shares of Bed Bath & Beyond from $40.00 to $35.00 and set a “sell” rating on the stock in a research report on Friday, April 7th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Bed Bath & Beyond in a research report on Thursday, April 6th. Finally, Loop Capital reaffirmed a “sell” rating and issued a $35.00 price objective on shares of Bed Bath & Beyond in a research report on Thursday, April 6th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Bed Bath & Beyond has a consensus rating of “Hold” and an average target price of $42.50.
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Bed Bath & Beyond (NASDAQ:BBBY) traded down 0.33% during midday trading on Friday, reaching $39.80. 1,880,327 shares of the company traded hands. The stock has a market capitalization of $5.76 billion, a P/E ratio of 8.69 and a beta of 0.85. The company has a 50 day moving average of $39.16 and a 200-day moving average of $41.50. Bed Bath & Beyond has a 12-month low of $37.28 and a 12-month high of $50.57.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, April 5th. The retailer reported $1.84 EPS for the quarter, beating the consensus estimate of $1.77 by $0.07. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Bed Bath & Beyond had a net margin of 5.95% and a return on equity of 27.65%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS.
Institutional investors have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board raised its stake in shares of Bed Bath & Beyond by 13.7% in the third quarter. Ontario Teachers Pension Plan Board now owns 143,400 shares of the retailer’s stock worth $6,182,000 after buying an additional 17,279 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Bed Bath & Beyond by 59.0% in the third quarter. BlackRock Advisors LLC now owns 1,415,418 shares of the retailer’s stock worth $61,018,000 after buying an additional 525,224 shares during the last quarter. Folger Hill Asset Management LP acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $705,000. California State Teachers Retirement System raised its stake in shares of Bed Bath & Beyond by 0.9% in the third quarter. California State Teachers Retirement System now owns 325,428 shares of the retailer’s stock worth $14,029,000 after buying an additional 2,800 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its stake in shares of Bed Bath & Beyond by 7.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 149,217 shares of the retailer’s stock worth $6,064,000 after buying an additional 10,191 shares during the last quarter. 93.69% of the stock is owned by institutional investors and hedge funds.
In other Bed Bath & Beyond news, CEO Steven H. Temares sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $39.83, for a total value of $7,966,000.00. Following the completion of the transaction, the chief executive officer now owns 603,515 shares of the company’s stock, valued at approximately $24,038,002.45. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.70% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Friday, June 16th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Wednesday, June 14th. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.13. Bed Bath & Beyond’s payout ratio is currently 10.71%.
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).
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