Morgan Stanley Trims Bed Bath & Beyond (BBBY) Target Price to $16.00

Bed Bath & Beyond (NASDAQ:BBBY) had its price target lowered by Morgan Stanley from $20.00 to $16.00 in a research report released on Thursday, MarketBeat Ratings reports. Morgan Stanley currently has a sell rating on the retailer’s stock.

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

BBBY opened at $17.28 on Thursday. The company has a quick ratio of 0.57, a current ratio of 1.83 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2,427.81, a PE ratio of 5.32, a price-to-earnings-growth ratio of -3.76 and a beta of 1.00. Bed Bath & Beyond has a 12 month low of $17.19 and a 12 month high of $40.33.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, April 11th. The retailer reported $1.48 EPS for the quarter, beating the consensus estimate of $1.41 by $0.07. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Bed Bath & Beyond had a return on equity of 16.45% and a net margin of 3.44%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. research analysts forecast that Bed Bath & Beyond will post 2.3 EPS for the current fiscal year.

The company 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. This is an increase from Bed Bath & Beyond’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, June 14th. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 19.23%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC increased its stake in Bed Bath & Beyond by 12.5% in the 4th quarter. Spark Investment Management LLC now owns 469,300 shares of the retailer’s stock valued at $10,319,000 after purchasing an additional 52,100 shares in the last quarter. Towle & Co. purchased a new position in Bed Bath & Beyond during the fourth quarter worth $22,398,000. Lingohr & Partner Asset Management GmbH increased its position in Bed Bath & Beyond by 20.0% during the fourth quarter. Lingohr & Partner Asset Management GmbH now owns 48,538 shares of the retailer’s stock worth $1,067,000 after buying an additional 8,100 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Bed Bath & Beyond by 19.5% during the third quarter. Asset Management One Co. Ltd. now owns 294,593 shares of the retailer’s stock worth $6,914,000 after buying an additional 48,166 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in Bed Bath & Beyond by 199.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,307,910 shares of the retailer’s stock worth $28,761,000 after buying an additional 871,390 shares in the last quarter. 91.36% of the stock is owned by hedge funds and other 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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