Bed Bath & Beyond (BBBY) Given New $15.00 Price Target at KeyCorp

Bed Bath & Beyond (NASDAQ:BBBY) had its target price dropped by equities research analysts at KeyCorp from $16.00 to $15.00 in a report issued on Thursday. The firm presently has an “underweight” rating on the retailer’s stock. KeyCorp’s target price indicates a potential upside of 1.21% from the stock’s current price.

Several other research firms have also recently issued reports on BBBY. BidaskClub cut shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Saturday, August 4th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Wedbush set a $18.00 price objective on shares of Bed Bath & Beyond and gave the company a “hold” rating in a research report on Thursday, September 13th. Standpoint Research cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Wells Fargo & Co reissued a “sell” rating and issued a $16.00 price objective on shares of Bed Bath & Beyond in a research report on Wednesday, June 27th. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Bed Bath & Beyond presently has a consensus rating of “Hold” and an average target price of $17.80.

Bed Bath & Beyond stock traded down $3.99 during trading hours on Thursday, hitting $14.82. The company had a trading volume of 921,912 shares, compared to its average volume of 3,649,209. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 4.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 0.62. Bed Bath & Beyond has a 1 year low of $16.52 and a 1 year high of $24.74.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings data on Wednesday, September 26th. The retailer reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.13). The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Bed Bath & Beyond had a net margin of 3.18% and a return on equity of 14.73%. Bed Bath & Beyond’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. research analysts expect that Bed Bath & Beyond will post 2.32 earnings per share for the current year.

In other news, insider Eugene A. Castagna sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $20.81, for a total value of $520,250.00. Following the completion of the sale, the insider now owns 124,255 shares of the company’s stock, valued at approximately $2,585,746.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of BBBY. BlackRock Inc. lifted its position in Bed Bath & Beyond by 28.0% during the second quarter. BlackRock Inc. now owns 15,909,818 shares of the retailer’s stock valued at $317,003,000 after acquiring an additional 3,478,265 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Bed Bath & Beyond by 47.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,431,514 shares of the retailer’s stock valued at $155,987,000 after acquiring an additional 2,403,924 shares during the last quarter. Northern Trust Corp lifted its position in Bed Bath & Beyond by 67.0% during the second quarter. Northern Trust Corp now owns 2,333,483 shares of the retailer’s stock valued at $46,495,000 after acquiring an additional 936,407 shares during the last quarter. Wells Fargo & Company MN lifted its position in Bed Bath & Beyond by 329.1% during the second quarter. Wells Fargo & Company MN now owns 699,235 shares of the retailer’s stock valued at $13,931,000 after acquiring an additional 536,288 shares during the last quarter. Finally, Towle & Co. lifted its position in Bed Bath & Beyond by 35.4% during the second quarter. Towle & Co. now owns 1,809,040 shares of the retailer’s stock valued at $36,045,000 after acquiring an additional 472,860 shares during the last quarter. 93.17% of the stock is owned by institutional investors.

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 various juvenile products.

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

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