Bed Bath & Beyond (BBBY) Cut to Underperform at Raymond James Financial

Raymond James Financial cut shares of Bed Bath & Beyond (NASDAQ:BBBY) from a market perform rating to an underperform rating in a report released on Thursday, Marketbeat Ratings reports.

Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Bed Bath & Beyond from a strong-buy rating to a buy rating in a research report on Sunday, December 31st. Zacks Investment Research raised shares of Bed Bath & Beyond from a hold rating to a buy rating and set a $26.00 price target on the stock in a research report on Tuesday, February 20th. TheStreet cut shares of Bed Bath & Beyond from a c rating to a d+ rating in a research report on Wednesday, December 20th. Barclays cut their price target on shares of Bed Bath & Beyond from $30.00 to $25.00 and set an equal weight rating on the stock in a research report on Thursday, December 21st. Finally, Wedbush set a $23.00 price target on shares of Bed Bath & Beyond and gave the company a hold rating in a research report on Wednesday, December 27th. Eleven analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Bed Bath & Beyond currently has a consensus rating of Hold and a consensus target price of $23.00.

NASDAQ BBBY opened at $17.28 on Thursday. The firm has a market capitalization of $2,427.81, a P/E ratio of 5.32, a P/E/G ratio of -3.76 and a beta of 1.00. Bed Bath & Beyond has a twelve month low of $17.19 and a twelve month high of $40.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.83 and a quick ratio of 0.57.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, April 11th. The retailer reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.07. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.68 billion. Bed Bath & Beyond had a return on equity of 16.45% and a net margin of 3.44%. Bed Bath & Beyond’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 earnings per share. sell-side analysts anticipate that Bed Bath & Beyond will post 2.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 17th. Stockholders of record on Friday, June 15th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, June 14th. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.15. Bed Bath & Beyond’s dividend payout ratio is 19.23%.

Several hedge funds have recently added to or reduced their stakes in BBBY. Ameriprise Financial Inc. boosted its position in shares of Bed Bath & Beyond by 507.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 420,494 shares of the retailer’s stock worth $9,874,000 after purchasing an additional 351,316 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Bed Bath & Beyond by 64.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,424,108 shares of the retailer’s stock worth $80,364,000 after purchasing an additional 1,336,053 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of Bed Bath & Beyond by 84.2% during the 3rd quarter. AMP Capital Investors Ltd now owns 193,125 shares of the retailer’s stock worth $4,532,000 after purchasing an additional 88,308 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Bed Bath & Beyond by 19.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 294,593 shares of the retailer’s stock worth $6,914,000 after purchasing an additional 48,166 shares in the last quarter. Finally, Vident Investment Advisory LLC boosted its position in shares of Bed Bath & Beyond by 10.6% during the 3rd quarter. Vident Investment Advisory LLC now owns 55,815 shares of the retailer’s stock worth $1,310,000 after purchasing an additional 5,348 shares in the last quarter. 91.36% of the stock is currently owned by institutional investors.

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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 juvenile products.

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

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