Bed Bath & Beyond Inc. (BBBY) Rating Increased to Hold at Zacks Investment Research
According to Zacks, “Bed Bath & Beyond remains focused on strategic initiatives like store expansion, eCommerce enhancement and improvement of customer services, which remain growth catalysts. However, the company's trend of reporting dismal quarterly results has considerably weighed on its stock price, which has underperformed the broader industry in the last six months. The company has been reeling under sluggish mall traffic, with increasing shift toward online shopping. Also, margins have been pressurized owing to increased costs. Expectations of these factors to linger caused management to provide a bleak outlook for fiscal 2016. Additionally, the company adverse currency fluctuations remain a threat. Nonetheless, we believe the company's store enhancement strategies will go a long way in attracting existing as well as new customers. The company's constant shareholder-friendly moves and its capital allocation strategy also remain noteworthy.”
Other analysts have also issued reports about the stock. Argus dropped their price target on shares of Bed Bath & Beyond from $55.00 to $50.00 and set a buy rating on the stock in a research report on Friday, February 10th. Credit Suisse Group AG set a $39.00 price target on shares of Bed Bath & Beyond and gave the stock a hold rating in a research report on Tuesday, December 20th. Jefferies Group LLC reaffirmed a hold rating and set a $45.00 price target on shares of Bed Bath & Beyond in a research report on Friday, December 23rd. Deutsche Bank AG reaffirmed a hold rating and set a $48.00 price target (up from $42.00) on shares of Bed Bath & Beyond in a research report on Friday, December 23rd. Finally, Telsey Advisory Group dropped their price target on shares of Bed Bath & Beyond from $45.00 to $43.00 and set a market perform rating on the stock in a research report on Thursday, December 22nd. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $43.67.
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Bed Bath & Beyond (NASDAQ:BBBY) opened at 39.15 on Wednesday. The company’s 50 day moving average price is $40.19 and its 200 day moving average price is $42.34. The firm has a market capitalization of $5.75 billion, a P/E ratio of 8.31 and a beta of 0.85. Bed Bath & Beyond has a 12 month low of $38.58 and a 12 month high of $52.33.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, December 21st. The retailer reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by $0.13. The business earned $3 billion during the quarter, compared to the consensus estimate of $3.01 billion. Bed Bath & Beyond had a return on equity of 27.65% and a net margin of 5.95%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. Analysts anticipate that Bed Bath & Beyond will post $4.52 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 18th. Stockholders of record on Friday, March 17th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.28%. Bed Bath & Beyond’s dividend payout ratio (DPR) is currently 10.71%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. bought a new position in Bed Bath & Beyond during the third quarter worth approximately $125,000. Evercore Wealth Management LLC boosted its position in Bed Bath & Beyond by 31.1% in the second quarter. Evercore Wealth Management LLC now owns 3,830 shares of the retailer’s stock worth $165,000 after buying an additional 909 shares during the period. Virtus Investment Advisers Inc. bought a new position in Bed Bath & Beyond during the third quarter worth approximately $171,000. Acrospire Investment Management LLC boosted its position in Bed Bath & Beyond by 7.1% in the third quarter. Acrospire Investment Management LLC now owns 4,500 shares of the retailer’s stock worth $194,000 after buying an additional 300 shares during the period. Finally, Blenheim Capital Management BV bought a new position in Bed Bath & Beyond during the fourth quarter worth approximately $197,000. 93.69% of the stock is owned by hedge funds and other institutional investors.
Bed Bath & Beyond Company Profile
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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