Other analysts have also recently issued research reports about the company. Argus reduced their price target on Bed Bath & Beyond from $55.00 to $50.00 and set a buy rating for the company in a research report on Friday, February 10th. Telsey Advisory Group reduced their price target on Bed Bath & Beyond from $45.00 to $43.00 and set a market perform rating for the company in a research report on Thursday, December 22nd. Cleveland Research cut Bed Bath & Beyond from a neutral rating to an underperform rating in a research report on Tuesday, December 20th. Loop Capital reiterated a sell rating and set a $35.00 target price on shares of Bed Bath & Beyond in a research report on Thursday, April 6th. Finally, Raymond James Financial, Inc. cut Bed Bath & Beyond from a strong-buy rating to a market perform rating in a research report on Thursday, December 22nd. 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 company’s stock. Bed Bath & Beyond presently has a consensus rating of Hold and an average price target of $42.50.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded down 0.35% during trading on Thursday, reaching $39.79. 1,322,995 shares of the company were exchanged. Bed Bath & Beyond has a one year low of $37.28 and a one year high of $50.57. The company has a market capitalization of $5.76 billion, a PE ratio of 8.69 and a beta of 0.85. The firm’s 50 day moving average price is $39.16 and its 200 day moving average price is $41.50.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, April 5th. The retailer reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The business earned $3.53 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Bed Bath & Beyond had a return on equity of 27.65% and a net margin of 5.95%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.91 earnings per share. Equities research analysts forecast that Bed Bath & Beyond will post $4.60 earnings per share for the current fiscal year.
The firm 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.50%. This is an increase from Bed Bath & Beyond’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, June 14th. Bed Bath & Beyond’s payout ratio is 10.71%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cutler Group LP boosted its stake in shares of Bed Bath & Beyond by 157.6% in the first quarter. Cutler Group LP now owns 2,934 shares of the retailer’s stock worth $115,000 after buying an additional 8,027 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new stake in shares of Bed Bath & Beyond during the third quarter worth approximately $171,000. Acrospire Investment Management LLC boosted its stake in shares of Bed Bath & Beyond by 7.1% in the third quarter. Acrospire Investment Management LLC now owns 4,500 shares of the retailer’s stock worth $194,000 after buying an additional 300 shares in the last quarter. Blenheim Capital Management BV purchased a new stake in shares of Bed Bath & Beyond during the fourth quarter worth approximately $197,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Bed Bath & Beyond during the fourth quarter worth approximately $200,000. Hedge funds and other institutional investors 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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