Bed Bath & Beyond Inc. (BBBY) Receives Average Rating of “Hold” from Analysts
Bed Bath & Beyond Inc. (NASDAQ:BBBY) has been given an average recommendation of “Hold” by the twenty-four research firms that are currently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $27.81.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “strong sell” rating to a “hold” rating and set a $31.00 price target for the company in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $38.00 price objective on shares of Bed Bath & Beyond in a report on Monday, June 19th. Wedbush set a $30.00 price objective on Bed Bath & Beyond and gave the company a “hold” rating in a research note on Saturday, June 24th. KeyCorp reiterated an “underweight” rating and issued a $21.00 price objective (down from $27.00) on shares of Bed Bath & Beyond in a research note on Wednesday, September 20th. Finally, UBS AG reiterated a “neutral” rating and issued a $30.00 price objective (down from $33.00) on shares of Bed Bath & Beyond in a research note on Thursday, September 14th.
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A number of hedge funds have recently made changes to their positions in BBBY. BlackRock Inc. lifted its position in Bed Bath & Beyond by 2,768.5% during the 1st quarter. BlackRock Inc. now owns 12,120,048 shares of the retailer’s stock valued at $478,258,000 after purchasing an additional 11,697,533 shares during the period. Renaissance Technologies LLC bought a new position in shares of Bed Bath & Beyond in the 2nd quarter valued at about $68,548,000. FMR LLC boosted its stake in shares of Bed Bath & Beyond by 9.9% in the 2nd quarter. FMR LLC now owns 14,748,756 shares of the retailer’s stock valued at $448,363,000 after purchasing an additional 1,330,077 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Bed Bath & Beyond by 12.0% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 8,136,389 shares of the retailer’s stock valued at $321,062,000 after purchasing an additional 872,036 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Bed Bath & Beyond by 247.2% in the 2nd quarter. First Trust Advisors LP now owns 889,716 shares of the retailer’s stock valued at $27,047,000 after purchasing an additional 633,465 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.
Bed Bath & Beyond (BBBY) opened at 23.27 on Wednesday. Bed Bath & Beyond has a 52 week low of $22.10 and a 52 week high of $48.83. The firm has a market capitalization of $3.25 billion, a P/E ratio of 5.95 and a beta of 1.11. The firm has a 50-day moving average price of $26.49 and a 200-day moving average price of $32.44.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Tuesday, September 19th. The retailer reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.28). The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $3.01 billion. Bed Bath & Beyond had a net margin of 4.64% and a return on equity of 21.74%. Bed Bath & Beyond’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 earnings per share. Equities analysts forecast that Bed Bath & Beyond will post $3.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.58%. The ex-dividend date is Thursday, December 14th. Bed Bath & Beyond’s dividend payout ratio is 15.42%.
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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