Bed Bath & Beyond Inc. (NASDAQ:BBBY) – Stock analysts at KeyCorp boosted their FY2019 earnings per share estimates for shares of Bed Bath & Beyond in a report issued on Wednesday. KeyCorp analyst B. Thomas now anticipates that the retailer will post earnings of $2.92 per share for the year, up from their previous estimate of $2.50. KeyCorp currently has a “Sell” rating and a $17.00 target price on the stock.
Several other analysts also recently weighed in on the company. Robert W. Baird restated a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Bed Bath & Beyond in a research note on Monday, September 18th. Moffett Nathanson initiated coverage on Bed Bath & Beyond in a research note on Monday, December 4th. They set a “neutral” rating for the company. ValuEngine upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, September 14th. Finally, Credit Suisse Group restated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Bed Bath & Beyond in a research note on Wednesday, September 20th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.24.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, December 20th. The retailer reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. Bed Bath & Beyond had a return on equity of 19.07% and a net margin of 4.11%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in Bed Bath & Beyond by 9.9% in the second quarter. FMR LLC now owns 14,748,756 shares of the retailer’s stock worth $448,363,000 after acquiring an additional 1,330,077 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Bed Bath & Beyond by 4.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,795,363 shares of the retailer’s stock worth $206,427,000 after acquiring an additional 339,594 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Bed Bath & Beyond by 64.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,424,108 shares of the retailer’s stock worth $80,364,000 after acquiring an additional 1,336,053 shares during the last quarter. Renaissance Technologies LLC bought a new position in Bed Bath & Beyond in the second quarter worth about $68,548,000. Finally, Schroder Investment Management Group lifted its holdings in Bed Bath & Beyond by 47.0% in the third quarter. Schroder Investment Management Group now owns 1,343,635 shares of the retailer’s stock worth $31,535,000 after acquiring an additional 429,524 shares during the last quarter. 94.20% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Matthew Fiorilli sold 16,957 shares of Bed Bath & Beyond stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $22.62, for a total value of $383,567.34. Following the completion of the transaction, the vice president now directly owns 97,419 shares in the company, valued at $2,203,617.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 16th will be paid a $0.15 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.60 dividend on an annualized basis and a yield of 2.80%. Bed Bath & Beyond’s dividend payout ratio (DPR) is 17.24%.
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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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