Bed Bath & Beyond’s (BBBY) Underperform Rating Reiterated at Bank of America Corporation
Bank of America Corporation reiterated their underperform rating on shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) in a research report report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $22.00 price objective on the retailer’s stock, down from their prior price objective of $27.00.
A number of other equities analysts have also commented on BBBY. ValuEngine lowered shares of Bed Bath & Beyond from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Bed Bath & Beyond from a hold rating to a sell rating in a research report on Monday, June 12th. Wolfe Research lowered shares of Bed Bath & Beyond from a peer perform rating to an underperform rating and set a $31.00 price target on the stock. in a research report on Monday, June 19th. Goldman Sachs Group, Inc. (The) reissued a sell rating and issued a $38.00 price target on shares of Bed Bath & Beyond in a research report on Monday, June 19th. Finally, Robert W. Baird reissued a neutral rating and issued a $38.00 price target (down previously from $42.00) on shares of Bed Bath & Beyond in a research report on Monday, June 19th. Nine equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $28.12.
Bed Bath & Beyond (BBBY) opened at 22.51 on Wednesday. The stock has a market capitalization of $3.17 billion, a P/E ratio of 5.18 and a beta of 1.11. Bed Bath & Beyond has a 52 week low of $22.16 and a 52 week high of $48.83. The stock has a 50 day moving average of $28.41 and a 200 day moving average of $33.64. Bed Bath & Beyond also saw some unusual options trading activity on Wednesday. Stock traders bought 19,819 put options on the company. This is an increase of approximately 857% compared to the typical daily volume of 2,070 put options.
Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings results on Tuesday, September 19th. The retailer reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.28). Bed Bath & Beyond had a net margin of 4.64% and a return on equity of 21.74%. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business earned $1.11 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities research analysts predict that Bed Bath & Beyond will post $3.22 earnings per share for the current fiscal year.
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The business 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 of this dividend is Thursday, December 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.67%. Bed Bath & Beyond’s payout ratio is 15.42%.
Several institutional investors 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 second quarter. Toronto Dominion Bank now owns 52,735 shares of the retailer’s stock worth $1,603,000 after acquiring an additional 8,653 shares during the last quarter. U S Global Investors Inc. acquired a new stake in Bed Bath & Beyond during the second quarter worth $409,000. Nomura Holdings Inc. boosted its stake in 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 buying an additional 275,609 shares in the last quarter. Bank of Nova Scotia boosted its stake in 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 buying an additional 500,182 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV boosted its stake in 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 buying an additional 8,440 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.
Bed Bath & Beyond Company Profile
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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