Bed Bath & Beyond Inc. (BBBY) PT Lowered to $37.00 at Citigroup Inc.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) had its price target reduced by research analysts at Citigroup Inc. from $38.00 to $37.00 in a research report issued to clients and investors on Thursday. The brokerage currently 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 previous close.
Other equities research analysts have also recently issued reports about the company. Credit Suisse Group AG set a $41.00 target price on Bed Bath & Beyond and gave the stock a “hold” rating in a report on Monday, September 12th. Zacks Investment Research cut Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Monday. Vetr raised Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 25th. KeyCorp reissued an “underweight” rating on shares of Bed Bath & Beyond in a research report on Saturday, June 25th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $50.00 price target on shares of Bed Bath & Beyond in a research report on Wednesday, June 15th. Eight research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $50.08.
Bed Bath & Beyond (NASDAQ:BBBY) opened at 43.11 on Thursday. Bed Bath & Beyond has a 12-month low of $41.15 and a 12-month high of $61.90. The company has a market cap of $6.51 billion, a P/E ratio of 8.60 and a beta of 0.72. The firm has a 50-day moving average price of $44.91 and a 200-day moving average price of $45.68.
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Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, September 21st. The retailer reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by $0.05. Bed Bath & Beyond had a net margin of 6.66% and a return on equity of 31.15%. The business had revenue of $2.99 billion for the quarter. During the same period in the prior year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts forecast that Bed Bath & Beyond will post $4.83 earnings per share for the current fiscal year.
The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.16%. Bed Bath & Beyond’s payout ratio is currently 9.98%.
In related news, COO Eugene A. Castagna sold 17,866 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $45.86, for a total value of $819,334.76. Following the completion of the sale, the chief operating officer now owns 140,630 shares of the company’s stock, valued at $6,449,291.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 4.70% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Bed Bath & Beyond during the fourth quarter valued at about $88,509,000. Chevy Chase Trust Holdings Inc. boosted its stake in Bed Bath & Beyond by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 139,269 shares of the retailer’s stock valued at $6,913,000 after buying an additional 3,488 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Bed Bath & Beyond by 11.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 38,540 shares of the retailer’s stock valued at $1,913,000 after buying an additional 3,856 shares during the period. Exxonmobil Investment Management Inc. TX boosted its stake in Bed Bath & Beyond by 6.5% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 39,829 shares of the retailer’s stock valued at $1,977,000 after buying an additional 2,422 shares during the period. Finally, Commonwealth Equity Services Inc boosted its stake in Bed Bath & Beyond by 16.3% in the first quarter. Commonwealth Equity Services Inc now owns 10,732 shares of the retailer’s stock valued at $533,000 after buying an additional 1,503 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.
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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