Bed Bath & Beyond Inc. (BBBY) Sees Significant Increase in Short Interest
Bed Bath & Beyond Inc. (NASDAQ:BBBY) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 16,488,870 shares, a growth of 14.2% from the September 15th total of 14,434,242 shares. Approximately 11.2% of the shares of the stock are short sold. Based on an average trading volume of 2,666,571 shares, the days-to-cover ratio is presently 6.2 days.
In other news, COO Eugene A. Castagna sold 17,866 shares of the business’s 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 transaction, the chief operating officer now directly owns 140,630 shares of the company’s stock, valued at approximately $6,449,291.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in BBBY. FMR LLC raised its position in Bed Bath & Beyond by 7.6% in the second quarter. FMR LLC now owns 12,156,947 shares of the retailer’s stock valued at $525,423,000 after buying an additional 860,235 shares during the last quarter. JPMorgan Chase & Co. raised its position in Bed Bath & Beyond by 10.3% in the second quarter. JPMorgan Chase & Co. now owns 6,749,160 shares of the retailer’s stock valued at $291,699,000 after buying an additional 630,285 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Bed Bath & Beyond by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,392,892 shares of the retailer’s stock valued at $218,063,000 after buying an additional 31,400 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Bed Bath & Beyond by 3.1% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,122,848 shares of the retailer’s stock valued at $82,449,000 after buying an additional 63,161 shares during the last quarter. Finally, BlackRock Group LTD raised its position in Bed Bath & Beyond by 12.1% in the second quarter. BlackRock Group LTD now owns 1,896,021 shares of the retailer’s stock valued at $81,945,000 after buying an additional 205,277 shares during the last quarter. Institutional investors and hedge funds own 96.65% of the company’s stock.
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Shares of Bed Bath & Beyond (NASDAQ:BBBY) opened at 42.66 on Thursday. The firm has a market capitalization of $6.34 billion, a P/E ratio of 8.65 and a beta of 0.83. Bed Bath & Beyond has a 52 week low of $41.15 and a 52 week high of $61.49. The company has a 50-day moving average of $44.12 and a 200 day moving average of $44.97.
Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Wednesday, September 21st. The retailer reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by $0.05. The firm earned $2.99 billion during the quarter. Bed Bath & Beyond had a net margin of 6.38% and a return on equity of 29.79%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. Equities research analysts anticipate that Bed Bath & Beyond will post $4.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 16th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.17%. Bed Bath & Beyond’s payout ratio is 10.18%.
BBBY has been the topic of several recent analyst reports. Vetr raised Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 25th. Wedbush reissued a “neutral” rating and issued a $42.00 target price on shares of Bed Bath & Beyond in a report on Tuesday, August 2nd. BTIG Research reissued a “neutral” rating on shares of Bed Bath & Beyond in a report on Saturday, June 25th. Robert W. Baird set a $45.00 price objective on Bed Bath & Beyond and gave the stock a “hold” rating in a report on Monday, September 19th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $45.00 price objective on shares of Bed Bath & Beyond in a report on Friday, September 23rd. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Bed Bath & Beyond presently has an average rating of “Hold” and a consensus price target of $48.65.
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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