Bed Bath & Beyond (NASDAQ:BBBY) had its price objective cut by Citigroup from $18.00 to $13.00 in a report released on Thursday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the retailer’s stock.
A number of other brokerages also recently issued reports on BBBY. JPMorgan Chase & Co. reissued a sell rating on shares of Rolls-Royce Motor Cars in a research report on Tuesday, March 26th. Zacks Investment Research raised shares of Green Brick Partners from a sell rating to a hold rating in a research report on Wednesday, April 10th. Goldman Sachs Group raised shares of Altria Group from a neutral rating to a buy rating and set a $59.00 target price on the stock in a research report on Thursday. Wolfe Research raised shares of TD Ameritrade from an underperform rating to a market perform rating in a research report on Wednesday, March 27th. Finally, Raymond James reaffirmed a hold rating on shares of Apple in a research report on Tuesday, March 26th. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Bed Bath & Beyond presently has an average rating of Hold and an average price target of $15.55.
Shares of Bed Bath & Beyond stock opened at $10.89 on Thursday. The company has a current ratio of 1.52, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58. The firm’s fifty day moving average is $12.11. The stock has a market cap of $1.40 billion, a P/E ratio of 5.31, a P/E/G ratio of 5.76 and a beta of 1.19. Bed Bath & Beyond has a 12-month low of $10.43 and a 12-month high of $20.38.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Wednesday, July 10th. The retailer reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.58 billion. Bed Bath & Beyond had a negative net margin of 4.66% and a positive return on equity of 9.49%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. As a group, sell-side analysts expect that Bed Bath & Beyond will post 1.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date of this dividend is Thursday, September 12th. Bed Bath & Beyond’s dividend payout ratio is presently 33.17%.
A number of institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in Bed Bath & Beyond by 132.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 24,710 shares of the retailer’s stock worth $287,000 after purchasing an additional 14,100 shares in the last quarter. New Jersey Better Educational Savings Trust bought a new position in Bed Bath & Beyond in the 2nd quarter worth about $174,000. Supplemental Annuity Collective Trust of NJ bought a new position in Bed Bath & Beyond in the 2nd quarter worth about $174,000. First Trust Advisors LP boosted its stake in Bed Bath & Beyond by 14.1% in the 1st quarter. First Trust Advisors LP now owns 270,168 shares of the retailer’s stock worth $4,590,000 after purchasing an additional 33,307 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Bed Bath & Beyond in the 1st quarter worth about $443,000. Institutional investors own 97.43% of the company’s stock.
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 various juvenile products.
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