Bed Bath & Beyond Inc. (BBBY) Price Target Lowered to $37.00 at Citigroup Inc.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) had its price target cut by analysts at Citigroup Inc. from $38.00 to $37.00 in a research note issued to investors on Thursday. The firm presently has a “sell” rating on the retailer’s stock. Citigroup Inc.’s price objective suggests a potential downside of 14.17% from the stock’s current price.
BBBY has been the subject of several other research reports. Credit Suisse Group AG cut their price target on Bed Bath & Beyond from $46.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, June 23rd. Wedbush reiterated a “neutral” rating and issued a $42.00 price objective (down previously from $46.00) on shares of Bed Bath & Beyond in a research report on Saturday, June 25th. Nomura reiterated a “hold” rating and issued a $45.00 price objective (down previously from $50.00) on shares of Bed Bath & Beyond in a research report on Thursday, June 23rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $45.00 price objective (down previously from $50.00) on shares of Bed Bath & Beyond in a research report on Thursday, June 23rd. Finally, Longbow Research started coverage on Bed Bath & Beyond in a research report on Thursday, June 16th. They issued a “neutral” rating for the company. Eight investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.08.
Bed Bath & Beyond (NASDAQ:BBBY) opened at 43.11 on Thursday. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 8.60 and a beta of 0.72. The stock’s 50 day moving average price is $44.91 and its 200 day moving average price is $45.68. Bed Bath & Beyond has a 12-month low of $41.15 and a 12-month high of $61.90.
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Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings results on Wednesday, September 21st. The retailer reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by $0.05. Bed Bath & Beyond had a return on equity of 31.15% and a net margin of 6.66%. The company had revenue of $2.99 billion for the quarter. During the same period in the previous year, the business earned $1.21 EPS. Bed Bath & Beyond’s revenue was down .2% on a year-over-year basis. Analysts forecast that Bed Bath & Beyond will post $4.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 16th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.16%. Bed Bath & Beyond’s dividend payout ratio is presently 9.98%.
In other Bed Bath & Beyond news, COO Eugene A. Castagna sold 17,866 shares of Bed Bath & Beyond stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $45.86, for a total transaction of $819,334.76. Following the sale, the chief operating officer now directly owns 140,630 shares in the company, valued at approximately $6,449,291.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. increased its stake in Bed Bath & Beyond by 103.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,304 shares of the retailer’s stock valued at $100,000 after buying an additional 1,172 shares in the last quarter. Creative Planning raised its position in shares of Bed Bath & Beyond by 1.2% in the second quarter. Creative Planning now owns 2,585 shares of the retailer’s stock valued at $112,000 after buying an additional 30 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Bed Bath & Beyond during the first quarter valued at approximately $124,000. Tower Research Capital LLC TRC raised its position in shares of Bed Bath & Beyond by 798.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,137 shares of the retailer’s stock valued at $135,000 after buying an additional 2,788 shares during the last quarter. Finally, Evercore Wealth Management LLC raised its position in shares of Bed Bath & Beyond by 31.1% in the second quarter. Evercore Wealth Management LLC now owns 3,830 shares of the retailer’s stock valued at $165,000 after buying an additional 909 shares during the last quarter. Institutional investors own 95.16% 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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