Bed Bath & Beyond Inc. (NASDAQ:BBBY) had its target price reduced by Wedbush from $42.00 to $38.00 in a note issued to investors on Thursday. The brokerage currently has a “neutral” rating on the retailer’s stock. Wedbush’s target price would suggest a potential downside of 4.52% from the company’s previous close.
A number of other equities research analysts also recently commented on BBBY. Loop Capital assumed coverage on Bed Bath & Beyond in a research report on Tuesday, December 20th. They set a “sell” rating and a $35.00 price objective for the company. Cleveland Research lowered Bed Bath & Beyond from a “neutral” rating to an “underperform” rating in a report on Tuesday, December 20th. Credit Suisse Group AG set a $39.00 target price on Bed Bath & Beyond and gave the company a “hold” rating in a report on Tuesday, December 20th. Telsey Advisory Group reduced their target price on Bed Bath & Beyond from $45.00 to $43.00 and set a “market perform” rating for the company in a report on Thursday, December 22nd. Finally, Raymond James Financial, Inc. lowered Bed Bath & Beyond from a “strong-buy” rating to a “market perform” rating in a report on Thursday, December 22nd. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $42.50.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded down 0.33% on Thursday, hitting $39.80. The stock had a trading volume of 1,880,327 shares. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 8.69 and a beta of 0.85. Bed Bath & Beyond has a one year low of $37.28 and a one year high of $50.57. The firm’s 50-day moving average is $39.16 and its 200-day moving average is $41.50.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, April 5th. The retailer reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. Bed Bath & Beyond had a return on equity of 27.65% and a net margin of 5.95%. The company earned $3.53 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts expect that Bed Bath & Beyond will post $4.60 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Investors of record on Friday, June 16th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend 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 dividend payout ratio (DPR) is presently 10.71%.
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Several large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Bed Bath & Beyond during the fourth quarter valued at $87,296,000. Fiera Capital Corp bought a new stake in Bed Bath & Beyond during the fourth quarter valued at $36,450,000. Strs Ohio boosted its stake in Bed Bath & Beyond by 2,939.7% in the third quarter. Strs Ohio now owns 774,984 shares of the retailer’s stock valued at $33,409,000 after buying an additional 749,489 shares during the last quarter. FMR LLC boosted its stake in Bed Bath & Beyond by 4.8% in the fourth quarter. FMR LLC now owns 12,867,660 shares of the retailer’s stock valued at $522,942,000 after buying an additional 591,607 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Bed Bath & Beyond by 132.8% in the third quarter. First Trust Advisors LP now owns 988,556 shares of the retailer’s stock valued at $42,617,000 after buying an additional 563,939 shares during the last quarter. Institutional investors and hedge funds own 93.69% of the company’s stock.
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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