Brokerages Set Bed Bath & Beyond Inc. (NASDAQ:BBBY) PT at $47.06
Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) have been given an average rating of “Hold” by the twenty-nine analysts that are covering the stock. Eight investment analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $47.06.
A number of research firms have weighed in on BBBY. Robert W. Baird reaffirmed a “neutral” rating and issued a $45.00 price objective (down previously from $51.00) on shares of Bed Bath & Beyond in a report on Monday, June 27th. Vetr cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating and set a $44.99 price objective for the company. in a report on Monday, July 18th. Nomura set a $45.00 price objective on shares of Bed Bath & Beyond and gave the company a “hold” rating in a report on Thursday, September 22nd. Barclays PLC began coverage on shares of Bed Bath & Beyond in a report on Thursday, June 23rd. They issued a “hold” rating for the company. Finally, Credit Suisse Group AG began coverage on shares of Bed Bath & Beyond in a report on Wednesday, June 15th. They issued a “hold” rating for the company.
In other Bed Bath & Beyond news, COO Eugene A. Castagna sold 17,866 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $45.86, for a total value of $819,334.76. Following the sale, the chief operating officer now directly owns 140,630 shares of the company’s stock, valued at approximately $6,449,291.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.70% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in BBBY. Bank of Montreal Can purchased a new stake in shares of Bed Bath & Beyond during the second quarter worth approximately $57,209,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Bed Bath & Beyond during the first quarter worth approximately $43,119,000. FMR LLC increased its stake in shares of Bed Bath & Beyond by 7.6% in the second quarter. FMR LLC now owns 12,156,947 shares of the retailer’s stock worth $525,423,000 after buying an additional 860,235 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Bed Bath & Beyond by 10.3% in the second quarter. JPMorgan Chase & Co. now owns 6,749,160 shares of the retailer’s stock worth $291,699,000 after buying an additional 630,285 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Bed Bath & Beyond by 133.8% in the second quarter. Prudential Financial Inc. now owns 929,004 shares of the retailer’s stock worth $40,151,000 after buying an additional 531,700 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) opened at 43.11 on Wednesday. The stock has a 50 day moving average price of $44.56 and a 200 day moving average price of $45.31. Bed Bath & Beyond has a 1-year low of $41.15 and a 1-year high of $61.49. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 8.74 and a beta of 0.72.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, September 21st. The retailer reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by $0.05. Bed Bath & Beyond had a return on equity of 29.79% and a net margin of 6.38%. The business had revenue of $2.99 billion for the quarter. During the same period in the previous year, the business posted $1.21 earnings per share. Bed Bath & Beyond’s revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Bed Bath & Beyond will post $4.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 16th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.16%. Bed Bath & Beyond’s dividend payout ratio is presently 10.18%.
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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