Brokerages Set Bed Bath & Beyond Inc. (NASDAQ:BBBY) Target Price at $15.78
Bed Bath & Beyond Inc. (NASDAQ:BBBY) has received a consensus recommendation of “Hold” from the twenty-four brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $15.78.
A number of brokerages recently weighed in on BBBY. Raymond James cut their price target on shares of Bed Bath & Beyond from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, July 12th. ValuEngine downgraded shares of Bed Bath & Beyond from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Bank of America set a $25.00 price target on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Loop Capital reissued an “average” rating and issued a $12.00 price target on shares of Bed Bath & Beyond in a report on Tuesday, July 9th. Finally, Citigroup cut their price target on shares of Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBBY. Dimensional Fund Advisors LP raised its holdings in shares of Bed Bath & Beyond by 13.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,259,473 shares of the retailer’s stock valued at $127,458,000 after buying an additional 1,317,631 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Bed Bath & Beyond by 5.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,592 shares of the retailer’s stock valued at $403,000 after buying an additional 1,814 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Bed Bath & Beyond by 4.2% during the fourth quarter. Legal & General Group Plc now owns 297,850 shares of the retailer’s stock valued at $3,371,000 after buying an additional 11,872 shares during the last quarter. Norges Bank bought a new stake in shares of Bed Bath & Beyond during the fourth quarter valued at approximately $27,760,000. Finally, Geode Capital Management LLC increased its stake in shares of Bed Bath & Beyond by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 1,707,564 shares of the retailer’s stock valued at $19,328,000 after acquiring an additional 165,899 shares during the period. 97.43% of the stock is currently owned by institutional investors and hedge funds.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The company 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 firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. On average, equities analysts expect that Bed Bath & Beyond will post 1.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 9.09%. The ex-dividend date is Thursday, September 12th. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 33.17%.
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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