Bed Bath & Beyond Inc. (BBBY) Sees Significant Decrease in Short Interest

Bed Bath & Beyond Inc. (NASDAQ:BBBY) was the recipient of a significant decline in short interest in September. As of September 28th, there was short interest totalling 28,426,685 shares, a decline of 5.2% from the September 14th total of 30,000,227 shares. Currently, 21.4% of the shares of the stock are short sold. Based on an average trading volume of 11,171,178 shares, the days-to-cover ratio is currently 2.5 days.

A number of large investors have recently added to or reduced their stakes in the business. Point72 Asia Hong Kong Ltd bought a new position in shares of Bed Bath & Beyond during the 1st quarter worth approximately $109,000. Signaturefd LLC boosted its holdings in shares of Bed Bath & Beyond by 124.8% during the 2nd quarter. Signaturefd LLC now owns 5,930 shares of the retailer’s stock worth $118,000 after buying an additional 3,292 shares in the last quarter. Trilogy Capital Inc. bought a new position in shares of Bed Bath & Beyond during the 1st quarter worth approximately $127,000. Asset Management One Co. Ltd. boosted its holdings in shares of Bed Bath & Beyond by 143.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 8,440 shares of the retailer’s stock worth $177,000 after buying an additional 4,980 shares in the last quarter. Finally, Ardsley Advisory Partners bought a new position in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $199,000. 93.17% of the stock is owned by institutional investors and hedge funds.

BBBY has been the subject of several research analyst reports. Wells Fargo & Co reissued a “sell” rating and set a $16.00 target price on shares of Bed Bath & Beyond in a research note on Wednesday, June 27th. BidaskClub raised Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. Credit Suisse Group set a $20.00 target price on Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Friday, June 29th. Standpoint Research downgraded Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Finally, Zacks Investment Research downgraded Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Ten investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. The company has an average rating of “Hold” and an average price target of $17.07.

NASDAQ:BBBY opened at $13.95 on Friday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 4.47, a PEG ratio of 7.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.60. Bed Bath & Beyond has a fifty-two week low of $13.78 and a fifty-two week high of $24.74.

Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Wednesday, September 26th. The retailer reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.13). The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.96 billion. Bed Bath & Beyond had a net margin of 2.81% and a return on equity of 12.52%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, sell-side analysts expect that Bed Bath & Beyond will post 2.02 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 14th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Thursday, December 13th. Bed Bath & Beyond’s dividend payout ratio is presently 20.51%.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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