Bed Bath & Beyond (NASDAQ:BBBY) Price Target Cut to $17.00

Bed Bath & Beyond (NASDAQ:BBBY) had its price objective reduced by Raymond James from $20.00 to $17.00 in a research report report published on Friday morning, BenzingaRatingsTable reports. They currently have a strong-buy rating on the retailer’s stock.

BBBY has been the subject of a number of other research reports. Deutsche Bank lifted their target price on Bed Bath & Beyond from $15.00 to $19.00 and gave the company a hold rating in a report on Thursday, April 11th. Zacks Investment Research raised Green Brick Partners from a sell rating to a hold rating in a report on Wednesday, April 10th. Jefferies Financial Group lifted their target price on Wynn Resorts from $160.00 to $165.00 and gave the company a buy rating in a report on Thursday, July 11th. Loop Capital reaffirmed an average rating and set a $12.00 target price on shares of Bed Bath & Beyond in a report on Tuesday, July 9th. Finally, BidaskClub lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, June 26th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $15.55.

BBBY stock opened at $10.55 on Friday. The company has a quick ratio of 0.48, a current ratio of 1.52 and a debt-to-equity ratio of 1.58. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 5.15, a PEG ratio of 5.70 and a beta of 1.19. Bed Bath & Beyond has a twelve month low of $10.43 and a twelve month high of $19.94. The firm’s 50-day moving average is $11.92.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.58 billion. Bed Bath & Beyond had a positive return on equity of 9.49% and a negative net margin of 4.66%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. As a group, sell-side analysts expect that Bed Bath & Beyond will post 1.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend is Thursday, September 12th. Bed Bath & Beyond’s payout ratio is 33.17%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake in Bed Bath & Beyond by 132.9% in the second quarter. Nisa Investment Advisors LLC now owns 24,710 shares of the retailer’s stock worth $287,000 after buying an additional 14,100 shares in the last quarter. New Jersey Better Educational Savings Trust purchased a new stake in Bed Bath & Beyond in the second quarter worth approximately $174,000. Supplemental Annuity Collective Trust of NJ purchased a new stake in Bed Bath & Beyond in the second quarter worth approximately $174,000. First Trust Advisors LP boosted its stake in Bed Bath & Beyond by 14.1% in the first quarter. First Trust Advisors LP now owns 270,168 shares of the retailer’s stock worth $4,590,000 after buying an additional 33,307 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in Bed Bath & Beyond in the first quarter worth approximately $443,000. 97.43% of the stock is owned by institutional investors and hedge funds.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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

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