ValuEngine Upgrades Bed Bath & Beyond (BBBY) to Strong-Buy

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.

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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.

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

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