Bed Bath & Beyond Inc. (BBBY) Sees Significant Increase in Short Interest
Bed Bath & Beyond Inc. (NASDAQ:BBBY) was the target of a significant growth in short interest in September. As of September 29th, there was short interest totalling 20,459,035 shares, a growth of 6.1% from the September 15th total of 19,289,689 shares. Based on an average trading volume of 8,150,131 shares, the days-to-cover ratio is presently 2.5 days. Currently, 14.8% of the company’s stock are short sold.
Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Bed Bath & Beyond in the 1st quarter valued at about $106,000. Ameritas Investment Partners Inc. acquired a new position in shares of Bed Bath & Beyond in the 1st quarter valued at about $146,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Bed Bath & Beyond by 928.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,836 shares of the retailer’s stock valued at $117,000 after buying an additional 3,463 shares during the period. First Quadrant L P CA acquired a new position in shares of Bed Bath & Beyond in the 2nd quarter valued at about $141,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Bed Bath & Beyond in the 1st quarter valued at about $315,000. 93.30% of the stock is owned by institutional investors and hedge funds.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) opened at 21.99 on Thursday. Bed Bath & Beyond has a 12 month low of $21.95 and a 12 month high of $48.83. The firm has a 50-day moving average price of $25.67 and a 200-day moving average price of $31.81. The stock has a market cap of $3.06 billion, a PE ratio of 5.62 and a beta of 1.11.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Tuesday, September 19th. The retailer reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.28). The company had revenue of $2.94 billion during 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%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. Equities analysts forecast that Bed Bath & Beyond will post $3.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be issued a $0.15 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.73%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 15.42%.
Several research firms have commented on BBBY. UBS AG reissued a “neutral” rating and issued a $33.00 target price (down from $37.00) on shares of Bed Bath & Beyond in a report on Monday, June 26th. ValuEngine raised Bed Bath & Beyond from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Morgan Stanley set a $30.00 price target on Bed Bath & Beyond and gave the company a “sell” rating in a report on Saturday, June 24th. Wedbush set a $30.00 price target on Bed Bath & Beyond and gave the company a “hold” rating in a report on Saturday, June 24th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Bed Bath & Beyond in a report on Saturday, June 24th. Nine equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $28.12.
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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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