Bed Bath & Beyond (BBBY) Sets New 52-Week Low at $11.97

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Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.97 and last traded at $12.28, with a volume of 264560 shares trading hands. The stock had previously closed at $12.28.

Several brokerages have issued reports on BBBY. Zacks Investment Research upgraded Bed Bath & Beyond from a “strong sell” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, November 27th. BidaskClub upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Raymond James upgraded Bed Bath & Beyond from an “underperform” rating to a “market perform” rating in a research note on Monday, September 17th. KeyCorp cut their price objective on Bed Bath & Beyond from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, September 27th. Finally, ValuEngine cut Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.64.

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.60. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 3.97, a P/E/G ratio of 6.11 and a beta of 0.92.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, September 26th. The retailer reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.13). The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.96 billion. Bed Bath & Beyond had a return on equity of 12.52% and a net margin of 2.81%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. Research analysts expect that Bed Bath & Beyond Inc. will post 2.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Thursday, December 13th. Bed Bath & Beyond’s payout ratio is 20.51%.

Institutional investors have recently made changes to their positions in the company. Towle & Co. grew its holdings in Bed Bath & Beyond by 35.4% in the 2nd quarter. Towle & Co. now owns 1,809,040 shares of the retailer’s stock worth $36,045,000 after buying an additional 472,860 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Bed Bath & Beyond by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,641,692 shares of the retailer’s stock worth $52,636,000 after buying an additional 297,632 shares in the last quarter. Advisory Services Network LLC grew its holdings in Bed Bath & Beyond by 115,725.0% in the 3rd quarter. Advisory Services Network LLC now owns 46,330 shares of the retailer’s stock worth $695,000 after buying an additional 46,290 shares in the last quarter. Strs Ohio bought a new position in Bed Bath & Beyond in the 2nd quarter worth approximately $1,436,000. Finally, SG Americas Securities LLC grew its holdings in Bed Bath & Beyond by 320.0% in the 3rd quarter. SG Americas Securities LLC now owns 149,663 shares of the retailer’s stock worth $2,245,000 after buying an additional 114,031 shares in the last quarter. Institutional investors and hedge funds own 97.51% of the company’s stock.

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About Bed Bath & Beyond (NASDAQ:BBBY)

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 various juvenile products.

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