Bed Bath & Beyond (NASDAQ:BBBY) Shares Gap Down to $14.53

Bed Bath & Beyond Inc. (NASDAQ:BBBY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $14.92, but opened at $14.53. Bed Bath & Beyond shares last traded at $14.00, with a volume of 4,176,248 shares.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley set a $12.00 price objective on shares of Bed Bath & Beyond and gave the company a “hold” rating in a research note on Tuesday, October 8th. BidaskClub cut Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Raymond James raised Bed Bath & Beyond to a “buy” rating in a research report on Thursday, October 10th. Telsey Advisory Group upgraded shares of Bed Bath & Beyond from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $14.00 to $16.00 in a report on Thursday, October 10th. Finally, UBS Group reduced their target price on shares of Bed Bath & Beyond from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.44.

The stock’s 50 day moving average is $13.72 and its 200-day moving average is $11.45. The company has a market cap of $1.89 billion, a P/E ratio of 7.09, a PEG ratio of 1.18 and a beta of 1.29. The company has a current ratio of 1.46, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, October 2nd. The retailer reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.07. Bed Bath & Beyond had a negative net margin of 6.36% and a positive return on equity of 10.20%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Bed Bath & Beyond Inc. will post 1.92 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, December 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.68 annualized dividend and a dividend yield of 4.68%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 33.17%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBBY. Penserra Capital Management LLC lifted its holdings in shares of Bed Bath & Beyond by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 3,590 shares of the retailer’s stock valued at $38,000 after buying an additional 718 shares during the period. Clear Harbor Asset Management LLC increased its position in Bed Bath & Beyond by 8.9% during the third quarter. Clear Harbor Asset Management LLC now owns 11,323 shares of the retailer’s stock valued at $120,000 after acquiring an additional 930 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Bed Bath & Beyond by 28.8% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 5,165 shares of the retailer’s stock valued at $55,000 after acquiring an additional 1,156 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Bed Bath & Beyond by 124.4% in the third quarter. Quadrant Capital Group LLC now owns 2,942 shares of the retailer’s stock valued at $30,000 after acquiring an additional 1,631 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Bed Bath & Beyond by 4.5% in the third quarter. Meeder Asset Management Inc. now owns 55,488 shares of the retailer’s stock valued at $590,000 after acquiring an additional 2,397 shares during the period.

About Bed Bath & Beyond (NASDAQ:BBBY)

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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