Bed Bath & Beyond Inc. (BBBY) Trading Down 2.6%
Bed Bath & Beyond Inc. (NASDAQ:BBBY)’s share price fell 2.6% during mid-day trading on Friday . The company traded as low as $45.14 and last traded at $45.17, with a volume of 1,034,962 shares. The stock had previously closed at $46.36.
A number of research firms have recently issued reports on BBBY. Bank of America Corp. restated a “sell” rating on shares of Bed Bath & Beyond in a research note on Wednesday, June 15th. Vetr upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Monday, May 2nd. Wedbush reiterated a “neutral” rating and set a $42.00 target price on shares of Bed Bath & Beyond in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $42.00 target price (down from $45.00) on shares of Bed Bath & Beyond in a research report on Thursday, June 23rd. Seven equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $50.20.
The firm has a market capitalization of $6.87 billion and a price-to-earnings ratio of 9.07. The stock’s 50-day moving average is $44.90 and its 200 day moving average is $45.98.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its earnings results on Wednesday, June 22nd. The retailer reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.06. During the same quarter last year, the company posted $0.93 EPS. The firm had revenue of $2.74 billion for the quarter. The business’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts forecast that Bed Bath & Beyond Inc. will post $4.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.10%.
In related news, COO Eugene A. Castagna sold 17,866 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $45.86, for a total transaction of $819,334.76. Following the completion of the transaction, the chief operating officer now owns 140,630 shares in the company, valued at approximately $6,449,291.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A hedge fund recently raised its stake in Bed Bath & Beyond stock. Principal Financial Group Inc. increased its stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,723 shares of the retailer’s stock after buying an additional 2,956 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Bed Bath & Beyond worth $12,146,000 at the end of the most recent quarter.
Bed Bath & Beyond Inc and subsidiaries is a retailer selling an assortment of domestics merchandise and home furnishings, which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon or Harmon Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus.