Bed Bath & Beyond Inc. (NASDAQ:BBBY) had its target price reduced by equities research analysts at Wedbush from $42.00 to $38.00 in a research note issued to investors on Thursday, April 6th. The brokerage presently has a “neutral” rating on the retailer’s stock. Wedbush’s target price would suggest a potential upside of 2.43% from the company’s previous close.
Several other analysts also recently issued reports on BBBY. Argus lowered their price objective on shares of Bed Bath & Beyond from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, February 10th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. Deutsche Bank AG reissued a “hold” rating and set a $48.00 price target (up previously from $42.00) on shares of Bed Bath & Beyond in a research report on Friday, December 23rd. Jefferies Group LLC reissued a “hold” rating and set a $45.00 price target on shares of Bed Bath & Beyond in a research report on Friday, December 23rd. Finally, 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. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $42.50.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) opened at 37.27 on Thursday. Bed Bath & Beyond has a 12-month low of $37.01 and a 12-month high of $48.83. The company has a market capitalization of $5.32 billion, a P/E ratio of 8.14 and a beta of 0.85. The stock has a 50 day moving average of $38.88 and a 200-day moving average of $41.16.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, April 5th. The retailer reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.50 billion. Bed Bath & Beyond had a net margin of 5.95% and a return on equity of 27.65%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 EPS. Equities research analysts forecast that Bed Bath & Beyond will post $4.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Investors of record on Friday, June 16th will be issued a $0.15 dividend. This is a positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.62%. The ex-dividend date is Wednesday, June 14th. Bed Bath & Beyond’s payout ratio is 10.71%.
In other Bed Bath & Beyond news, CEO Steven H. Temares sold 200,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $39.83, for a total value of $7,966,000.00. Following the transaction, the chief executive officer now directly owns 603,515 shares of the company’s stock, valued at approximately $24,038,002.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Matthew Fiorilli sold 44,664 shares of Bed Bath & Beyond stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $39.56, for a total value of $1,766,907.84. Following the completion of the transaction, the vice president now directly owns 155,722 shares in the company, valued at $6,160,362.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,597 shares of company stock valued at $10,087,816. Corporate insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BBBY. Cutler Group LP increased its position in shares of Bed Bath & Beyond by 157.6% in the first quarter. Cutler Group LP now owns 2,934 shares of the retailer’s stock valued at $115,000 after buying an additional 8,027 shares in the last quarter. First Manhattan Co. boosted its stake in Bed Bath & Beyond by 20.3% in the first quarter. First Manhattan Co. now owns 2,966 shares of the retailer’s stock worth $127,000 after buying an additional 500 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new stake in Bed Bath & Beyond during the third quarter worth about $171,000. Acrospire Investment Management LLC boosted its stake 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 in the last quarter. Finally, Blenheim Capital Management BV purchased a new stake in Bed Bath & Beyond during the fourth quarter worth about $197,000. 93.69% of the stock is currently owned by institutional investors.
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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