Wedbush Lowers Bed Bath & Beyond Inc. (BBBY) Price Target to $38.00

Bed Bath & Beyond Inc. (NASDAQ:BBBY) had its target price dropped by equities research analysts at Wedbush from $42.00 to $38.00 in a report issued on Thursday. The brokerage presently has a “neutral” rating on the retailer’s stock. Wedbush’s target price indicates a potential downside of 4.52% from the stock’s previous close.

Several other analysts have also weighed in on the company. Telsey Advisory Group cut their price objective on Bed Bath & Beyond from $42.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. Loop Capital reaffirmed a “sell” rating and set a $35.00 target price on shares of Bed Bath & Beyond in a report on Thursday, March 30th. Zacks Investment Research downgraded Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Tuesday, March 21st. Argus reduced their target price on Bed Bath & Beyond from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 10th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $48.00 target price (up from $42.00) on shares of Bed Bath & Beyond in a report on Friday, December 23rd. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.50.

Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

Bed Bath & Beyond (NASDAQ:BBBY) traded down 0.33% during midday trading on Thursday, hitting $39.80. 1,880,327 shares of the stock were exchanged. The stock has a market cap of $5.76 billion, a P/E ratio of 8.69 and a beta of 0.85. The firm has a 50-day moving average price of $39.16 and a 200-day moving average price of $41.50. Bed Bath & Beyond has a one year low of $37.28 and a one year high of $50.57.

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, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The business earned $3.53 billion during the quarter, compared to analyst estimates of $3.50 billion. Bed Bath & Beyond had a return on equity of 27.65% and a net margin of 5.95%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.91 earnings per share. On average, equities research analysts anticipate that Bed Bath & Beyond will post $4.60 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Friday, June 16th will be given 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 1.51%. The ex-dividend date of this dividend is Wednesday, June 14th. Bed Bath & Beyond’s dividend payout ratio is presently 10.71%.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Commerce Bank raised its position in shares of Bed Bath & Beyond by 1.4% in the third quarter. Commerce Bank now owns 6,648 shares of the retailer’s stock valued at $287,000 after buying an additional 91 shares during the last quarter. Advantus Capital Management Inc raised its position in shares of Bed Bath & Beyond by 1.0% in the third quarter. Advantus Capital Management Inc now owns 15,138 shares of the retailer’s stock valued at $653,000 after buying an additional 149 shares during the last quarter. Hartford Investment Management Co. raised its position in shares of Bed Bath & Beyond by 0.5% in the third quarter. Hartford Investment Management Co. now owns 38,339 shares of the retailer’s stock valued at $1,653,000 after buying an additional 186 shares during the last quarter. World Asset Management Inc raised its position in shares of Bed Bath & Beyond by 1.1% in the third quarter. World Asset Management Inc now owns 17,632 shares of the retailer’s stock valued at $760,000 after buying an additional 198 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Bed Bath & Beyond by 3.5% in the third quarter. CENTRAL TRUST Co now owns 7,388 shares of the retailer’s stock valued at $318,000 after buying an additional 250 shares during the last quarter. 93.69% of the stock is currently owned by 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).

5 Day Chart for NASDAQ:BBBY

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