Bed Bath & Beyond (BBBY) Upgraded by BidaskClub to “Hold”
BidaskClub upgraded shares of Bed Bath & Beyond (NASDAQ:BBBY) from a sell rating to a hold rating in a research note published on Thursday morning.
Several other analysts also recently commented on BBBY. Credit Suisse Group set a $20.00 target price on shares of Bed Bath & Beyond and gave the company a hold rating in a report on Friday, June 29th. Zacks Investment Research downgraded shares of Bed Bath & Beyond from a hold rating to a sell rating in a report on Tuesday, August 28th. Standpoint Research downgraded shares of Bed Bath & Beyond from a buy rating to a hold rating in a report on Tuesday, August 14th. Finally, Wells Fargo & Co reiterated a sell rating and issued a $16.00 target price on shares of Bed Bath & Beyond in a report on Wednesday, June 27th. Eight analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $20.00.
BBBY traded up $0.10 during trading on Thursday, hitting $18.25. 51,620 shares of the company’s stock were exchanged, compared to its average volume of 2,589,065. The company has a current ratio of 1.86, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Bed Bath & Beyond has a fifty-two week low of $16.52 and a fifty-two week high of $29.63. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 5.86 and a beta of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 16th. Investors of record on Friday, September 14th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.64 dividend on an annualized basis and a yield of 3.51%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 20.51%.
In other Bed Bath & Beyond news, insider Eugene A. Castagna sold 25,000 shares of the stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $20.81, for a total transaction of $520,250.00. Following the completion of the transaction, the insider now owns 124,255 shares in the company, valued at $2,585,746.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.50% of the company’s stock.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Bed Bath & Beyond by 28.0% during the second quarter. BlackRock Inc. now owns 15,909,818 shares of the retailer’s stock worth $317,003,000 after purchasing an additional 3,478,265 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Bed Bath & Beyond by 30.0% in the second quarter. Dimensional Fund Advisors LP now owns 9,663,353 shares of the retailer’s stock valued at $192,540,000 after acquiring an additional 2,231,839 shares during the period. Contrarius Investment Management Ltd boosted its position in shares of Bed Bath & Beyond by 4.1% in the second quarter. Contrarius Investment Management Ltd now owns 6,596,392 shares of the retailer’s stock valued at $131,433,000 after acquiring an additional 259,348 shares during the period. Prudential Financial Inc. boosted its position in shares of Bed Bath & Beyond by 557.6% in the first quarter. Prudential Financial Inc. now owns 2,840,003 shares of the retailer’s stock valued at $59,611,000 after acquiring an additional 2,408,117 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Bed Bath & Beyond by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 2,641,692 shares of the retailer’s stock valued at $52,636,000 after acquiring an additional 297,632 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.
Bed Bath & Beyond Company Profile
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
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