KeyCorp reaffirmed their sell rating on shares of Bed Bath & Beyond (NASDAQ:BBBY) in a research note published on Thursday, December 21st. They currently have a $17.00 price target on the retailer’s stock. KeyCorp also issued estimates for Bed Bath & Beyond’s FY2019 earnings at $2.50 EPS.
A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird restated a neutral rating and issued a $23.00 price objective (down previously from $28.00) on shares of Bed Bath & Beyond in a research report on Monday, September 18th. Zacks Investment Research cut shares of Bed Bath & Beyond from a buy rating to a hold rating in a research report on Wednesday, August 30th. Moffett Nathanson began coverage on shares of Bed Bath & Beyond in a research note on Monday, December 4th. They set a neutral rating on the stock. ValuEngine raised shares of Bed Bath & Beyond from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, Jefferies Group cut their target price on shares of Bed Bath & Beyond to $25.00 and set an underperform rating on the stock in a research note on Friday, December 22nd. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $26.24.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) opened at $22.82 on Thursday. The stock has a market cap of $3,131.66, a price-to-earnings ratio of 6.56, a PEG ratio of -3.66 and a beta of 1.09. Bed Bath & Beyond has a fifty-two week low of $19.07 and a fifty-two week high of $41.98. The company has a current ratio of 1.67, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, December 20th. The retailer reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Bed Bath & Beyond had a net margin of 4.11% and a return on equity of 19.07%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. research analysts predict that Bed Bath & Beyond will post 3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Friday, March 16th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.60 dividend on an annualized basis and a yield of 2.63%. Bed Bath & Beyond’s dividend payout ratio is currently 17.24%.
In other Bed Bath & Beyond news, VP Matthew Fiorilli sold 16,957 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $22.62, for a total transaction of $383,567.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quinn Opportunity Partners LLC boosted its position in shares of Bed Bath & Beyond by 15.3% during the second quarter. Quinn Opportunity Partners LLC now owns 75,500 shares of the retailer’s stock worth $2,295,000 after acquiring an additional 10,000 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of Bed Bath & Beyond by 59.4% during the third quarter. LS Investment Advisors LLC now owns 16,684 shares of the retailer’s stock worth $392,000 after acquiring an additional 6,217 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of Bed Bath & Beyond by 9.0% during the second quarter. Riverhead Capital Management LLC now owns 172,139 shares of the retailer’s stock worth $5,233,000 after acquiring an additional 14,236 shares during the last quarter. Swiss National Bank boosted its position in shares of Bed Bath & Beyond by 1.7% during the second quarter. Swiss National Bank now owns 547,190 shares of the retailer’s stock worth $16,635,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Bed Bath & Beyond during the second quarter worth $1,096,000. 94.20% of the stock is owned by hedge funds and other institutional investors.
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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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