Bed Bath & Beyond Inc. (BBBY) Given “Hold” Rating at Jefferies Group LLC
Jefferies Group LLC reiterated their hold rating on shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) in a research note issued to investors on Thursday morning. The brokerage currently has a $25.00 price objective on the retailer’s stock, down from their prior price objective of $34.00.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Bed Bath & Beyond from a buy rating to a hold rating in a research report on Wednesday, August 30th. Wolfe Research downgraded shares of Bed Bath & Beyond from a peer perform rating to an underperform rating and set a $31.00 price objective on the stock. in a research report on Monday, June 19th. Robert W. Baird reiterated a neutral rating and issued a $23.00 price objective (down from $28.00) on shares of Bed Bath & Beyond in a research report on Monday. Bank of America Corporation cut their price objective on shares of Bed Bath & Beyond from $35.00 to $30.00 and set an underperform rating on the stock in a research report on Friday, June 23rd. Finally, Argus reiterated a buy rating and issued a $40.00 price objective (down from $48.00) on shares of Bed Bath & Beyond in a research report on Wednesday, June 28th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $29.06.
Shares of Bed Bath & Beyond (NASDAQ BBBY) traded up 0.112% on Thursday, hitting $22.275. 3,809,727 shares of the stock were exchanged. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 5.125 and a beta of 1.11. Bed Bath & Beyond has a one year low of $22.16 and a one year high of $48.83. The firm’s 50 day moving average price is $28.41 and its 200 day moving average price is $33.64. Bed Bath & Beyond also saw unusually large options trading activity on Wednesday. Traders purchased 19,819 put options on the company. This represents an increase of 857% compared to the typical daily volume of 2,070 put options.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Tuesday, September 19th. The retailer reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.28). Bed Bath & Beyond had a return on equity of 21.74% and a net margin of 4.64%. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the business posted $1.11 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Bed Bath & Beyond will post $3.22 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be paid a $0.15 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.70%. Bed Bath & Beyond’s dividend payout ratio is currently 15.42%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of Bed Bath & Beyond by 19.6% in the 2nd 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 last quarter. U S Global Investors Inc. acquired a new position in shares of Bed Bath & Beyond in the 2nd quarter worth approximately $409,000. Nomura Holdings Inc. grew its stake in shares of Bed Bath & Beyond by 110.8% in the 2nd 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 last quarter. Bank of Nova Scotia grew its stake in shares of Bed Bath & Beyond by 1,616.3% in the 2nd 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 last quarter. Finally, Rowland & Co. Investment Counsel ADV grew its stake in shares of Bed Bath & Beyond by 20.6% in the 2nd 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 last quarter. 93.30% of the stock is currently owned by 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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