Bed Bath & Beyond (BBBY) PT Lowered to $16.00 at JPMorgan Chase

Bed Bath & Beyond (NASDAQ:BBBY) had its target price trimmed by JPMorgan Chase to $16.00 in a research report released on Thursday morning. The brokerage currently has an underweight rating on the retailer’s stock.

A number of other brokerages have also commented on BBBY. ValuEngine lowered Bed Bath & Beyond from a buy rating to a hold rating in a report on Thursday, March 1st. Loop Capital set a $23.00 price objective on Bed Bath & Beyond and gave the company a hold rating in a report on Thursday, January 4th. BidaskClub lowered Bed Bath & Beyond from a hold rating to a sell rating in a report on Saturday, January 6th. Morgan Stanley set a $22.00 price objective on Bed Bath & Beyond and gave the company a sell rating in a report on Thursday, December 21st. Finally, Zacks Investment Research lowered Bed Bath & Beyond from a hold rating to a sell rating in a report on Monday, April 9th. Eleven investment 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 company. The company presently has a consensus rating of Hold and an average price target of $23.00.

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Shares of NASDAQ BBBY opened at $17.28 on Thursday. The company has a current ratio of 1.83, a quick ratio of 0.31 and a debt-to-equity ratio of 0.52. Bed Bath & Beyond has a one year low of $17.19 and a one year high of $40.33. The firm has a market capitalization of $2,417.97, a price-to-earnings ratio of 5.54, a PEG ratio of -3.66 and a beta of 1.00.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Wednesday, April 11th. The retailer reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. Bed Bath & Beyond had a return on equity of 16.45% and a net margin of 3.44%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the firm posted $1.84 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. equities analysts forecast that Bed Bath & Beyond will post 2.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Friday, June 15th will be paid a $0.16 dividend. The ex-dividend date is Thursday, June 14th. This is a positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 3.70%. Bed Bath & Beyond’s dividend payout ratio (DPR) is 19.23%.

Large investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at about $121,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at about $149,000. Captrust Financial Advisors acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at about $151,000. State of Alaska Department of Revenue acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at about $180,000. Finally, Alps Advisors Inc. acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at about $223,000. 91.37% of the stock is currently owned by institutional investors and hedge funds.

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About Bed Bath & Beyond

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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