Bed Bath & Beyond Inc. (BBBY) Sees Unusually-High Trading Volume
Bed Bath & Beyond Inc. (NASDAQ:BBBY) shares saw unusually-high trading volume on Friday . Approximately 2,464,796 shares changed hands during trading, an increase of 38% from the previous session’s volume of 1,786,084 shares.The stock last traded at $46.11 and had previously closed at $45.73.
BBBY has been the subject of several analyst reports. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bed Bath & Beyond in a research report on Thursday, April 14th. Topeka Capital Markets initiated coverage on Bed Bath & Beyond in a research report on Monday, May 23rd. They set a “sell” rating and a $37.00 price objective for the company. KeyCorp reaffirmed an “underweight” rating on shares of Bed Bath & Beyond in a research report on Saturday, June 25th. Barclays PLC reaffirmed an “equal weight” rating and set a $50.00 price objective on shares of Bed Bath & Beyond in a research report on Wednesday, June 15th. Finally, Zacks Investment Research cut Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. Eight research analysts have rated the stock with a sell rating, twenty have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.20.
The company’s 50 day moving average price is $44.10 and its 200 day moving average price is $45.78. The company has a market cap of $6.97 billion and a PE ratio of 9.20.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, June 22nd. The retailer reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.06. During the same period in the prior year, the company earned $0.93 earnings per share. The business earned $2.74 billion during the quarter. The business’s revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that Bed Bath & Beyond Inc. will post $4.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.08%.
Several large investors have added to or reduced their stakes in BBBY. Principal Financial Group Inc. boosted its stake in Bed Bath & Beyond by 1.2% in the fourth quarter. Principal Financial Group Inc. now owns 251,723 shares of the retailer’s stock worth $12,146,000 after buying an additional 2,956 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in Bed Bath & Beyond by 11.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 101,872 shares of the retailer’s stock worth $5,979,000 after buying an additional 10,797 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in Bed Bath & Beyond by 4.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 22,354 shares of the retailer’s stock worth $1,079,000 after buying an additional 947 shares during the period. Schroder Investment Management Group boosted its stake in Bed Bath & Beyond by 25.5% in the fourth quarter. Schroder Investment Management Group now owns 955,789 shares of the retailer’s stock worth $46,117,000 after buying an additional 194,501 shares during the period. Finally, Andra AP fonden boosted its stake in Bed Bath & Beyond by 45.6% in the fourth quarter. Andra AP fonden now owns 61,600 shares of the retailer’s stock worth $2,972,000 after buying an additional 19,300 shares during the period.
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.
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