Zacks Investment Research cut shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) from a buy rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “Bed Bath & Beyond  is focused on strategic initiatives like e-Commerce enhancement and improvement of customer services, as also evident from its recent store realigment plan. Also, comps from customer-facing digital networks grew over 20% in the last reported quarter. Additionally, Bed Bath & Beyond’s capital initiatives and constant shareholder-friendly moves should draw investors’ attention. However, the company has lagged the broader industry in the past year owing to its unimpressive past performances. Well, Bed Bath & Beyond has been reeling under sluggish mall traffic that has been intensifying with increasing shift toward online shopping. Also, margins have been pressurized for four quarters now, owing to increased expenses. Additionally, the company's global presence keeps it exposed to currency woes. Unfortunately, management's dismal view for fiscal 2017 raises concerns about these obstacles to linger.”

Other analysts have also issued reports about the stock. Wedbush set a $30.00 target price on shares of Bed Bath & Beyond and gave the stock a hold rating in a research note on Saturday, June 24th. Bank of America Corporation set a $27.00 target price on shares of Bed Bath & Beyond and gave the stock a sell rating in a research note on Saturday, June 24th. Morgan Stanley set a $30.00 target price on shares of Bed Bath & Beyond and gave the stock a sell rating in a research note on Saturday, June 24th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Bed Bath & Beyond in a research note on Saturday, June 24th. Finally, UBS AG restated a neutral rating and set a $33.00 target price (down from $37.00) on shares of Bed Bath & Beyond in a research note on Monday, June 26th. Nine equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $34.94.

Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded down 0.66% on Wednesday, hitting $28.67. 3,550,690 shares of the stock were exchanged. The company’s 50 day moving average is $28.55 and its 200-day moving average is $33.93. The stock has a market cap of $4.03 billion, a PE ratio of 6.60 and a beta of 1.11. Bed Bath & Beyond has a 52-week low of $26.96 and a 52-week high of $48.83.

Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Thursday, June 22nd. The retailer reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.08). Bed Bath & Beyond had a return on equity of 24.38% and a net margin of 5.22%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Analysts predict that Bed Bath & Beyond will post $4.02 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 14th. Bed Bath & Beyond’s dividend payout ratio is presently 13.86%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its holdings in shares of Bed Bath & Beyond by 19.6% during the second quarter. Toronto Dominion Bank now owns 52,735 shares of the retailer’s stock worth $1,603,000 after purchasing an additional 8,653 shares during the period. U S Global Investors Inc. acquired a new stake in shares of Bed Bath & Beyond during the second quarter worth $409,000. Nomura Holdings Inc. lifted its holdings in shares of Bed Bath & Beyond by 110.8% during the second quarter. Nomura Holdings Inc. now owns 26,825 shares of the retailer’s stock worth $815,000 after purchasing an additional 275,609 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Bed Bath & Beyond by 1,616.3% during the second quarter. Bank of Nova Scotia now owns 531,128 shares of the retailer’s stock worth $16,147,000 after purchasing an additional 500,182 shares during the period. Finally, Rowland & Co. Investment Counsel ADV lifted its holdings in shares of Bed Bath & Beyond by 20.6% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 49,448 shares of the retailer’s stock worth $1,507,000 after purchasing an additional 8,440 shares during the period. 93.35% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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