Bed Bath & Beyond Inc. (NASDAQ:BBBY) had its price objective trimmed by Telsey Advisory Group from $42.00 to $41.00 in a research report sent to investors on Thursday morning. The brokerage currently has a market perform rating on the retailer’s stock.
Several other equities analysts have also weighed in on the company. Loop Capital reaffirmed a sell rating and issued a $35.00 price objective on shares of Bed Bath & Beyond in a research note on Sunday, January 8th. Zacks Investment Research lowered Bed Bath & Beyond from a hold rating to a sell rating in a research note on Tuesday, March 21st. Cleveland Research lowered Bed Bath & Beyond from a neutral rating to an underperform rating in a research note on Tuesday, December 20th. Credit Suisse Group AG set a $39.00 price objective on Bed Bath & Beyond and gave the company a hold rating in a research note on Tuesday, December 20th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $45.00 price objective on shares of Bed Bath & Beyond in a research note on Friday, December 23rd. 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 issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $42.50.
Bed Bath & Beyond (NASDAQ:BBBY) traded down 0.33% during midday trading on Thursday, hitting $39.80. 1,880,327 shares of the stock were exchanged. Bed Bath & Beyond has a one year low of $37.28 and a one year high of $50.57. The firm has a 50-day moving average price of $39.16 and a 200-day moving average price of $41.50. The stock has a market cap of $5.76 billion, a P/E ratio of 8.69 and a beta of 0.85.
Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings data on Wednesday, April 5th. The retailer reported $1.84 earnings per share 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 analyst estimates of $3.50 billion. Bed Bath & Beyond had a return on equity of 27.65% and a net margin of 5.95%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.91 EPS. On average, equities research analysts anticipate that Bed Bath & Beyond will post $4.60 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Friday, June 16th will be given a dividend of $0.15 per share. 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 positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.13. 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 BBBY. Cutler Group LP raised its position 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 during the period. Virtus Investment Advisers Inc. acquired a new position in shares of Bed Bath & Beyond during the third quarter worth about $171,000. Acrospire Investment Management LLC raised its position 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 during the period. Blenheim Capital Management BV acquired a new position in shares of Bed Bath & Beyond during the fourth quarter worth about $197,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Bed Bath & Beyond during the fourth quarter worth about $200,000. 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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