ValuEngine upgraded shares of Bed Bath & Beyond (NASDAQ:BBBY) from a buy rating to a strong-buy rating in a research note published on Friday morning.
A number of other equities research analysts have also recently weighed in on the stock. JPMorgan Chase cut shares of Bed Bath & Beyond from a neutral rating to an underweight rating and reduced their price target for the company from $23.03 to $18.00 in a research report on Friday, January 26th. Telsey Advisory Group reissued a market perform rating on shares of Bed Bath & Beyond in a research report on Thursday, January 25th. Jefferies Group reduced their price target on shares of Bed Bath & Beyond to $25.00 and set an underperform rating for the company in a research report on Friday, December 22nd. Wedbush reduced their price target on shares of Bed Bath & Beyond from $23.00 to $22.26 and set a neutral rating for the company in a research report on Tuesday, March 20th. Finally, BidaskClub cut shares of Bed Bath & Beyond from a hold rating to a sell rating in a research report on Saturday, January 6th. Eleven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $23.00.
Bed Bath & Beyond stock opened at $17.49 on Friday. Bed Bath & Beyond has a 12-month low of $17.19 and a 12-month high of $40.33. The firm has a market cap of $2,427.81, a PE ratio of 5.61, a PEG ratio of -3.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.83 and a quick ratio of 0.57.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, April 11th. The retailer reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. Bed Bath & Beyond had a net margin of 3.44% and a return on equity of 16.45%. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the company earned $1.84 earnings per share. Bed Bath & Beyond’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts forecast that Bed Bath & Beyond will post 2.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 17th. Shareholders of record on Friday, June 15th will be paid a $0.16 dividend. The ex-dividend date is Thursday, June 14th. This is a positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 3.66%. Bed Bath & Beyond’s payout ratio is currently 19.23%.
A number of hedge funds and other institutional investors have recently bought and sold shares of BBBY. Arrowstreet Capital Limited Partnership increased its stake in shares of Bed Bath & Beyond by 364.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,710,466 shares of the retailer’s stock worth $103,583,000 after acquiring an additional 3,696,289 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Bed Bath & Beyond by 64.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,424,108 shares of the retailer’s stock worth $80,364,000 after acquiring an additional 1,336,053 shares during the period. Schroder Investment Management Group increased its stake in shares of Bed Bath & Beyond by 48.3% during the fourth quarter. Schroder Investment Management Group now owns 1,992,815 shares of the retailer’s stock worth $43,822,000 after acquiring an additional 649,180 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Bed Bath & Beyond by 199.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,307,910 shares of the retailer’s stock worth $28,761,000 after acquiring an additional 871,390 shares during the period. Finally, Towle & Co. acquired a new position in shares of Bed Bath & Beyond during the fourth quarter worth about $22,398,000. Institutional investors own 91.36% of the company’s stock.
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Bed Bath & Beyond Company Profile
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 juvenile products.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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