Bed Bath & Beyond Inc. (BBBY) Receives Neutral Rating from Robert W. Baird

Robert W. Baird reaffirmed their neutral rating on shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) in a report published on Monday. The firm currently has a $38.00 price target on the retailer’s stock, down from their prior price target of $42.00.

Several other research firms have also weighed in on BBBY. Loop Capital restated a sell rating and set a $35.00 target price on shares of Bed Bath & Beyond in a report on Thursday, March 30th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a sell rating to a hold rating in a report on Wednesday, March 15th. Credit Suisse Group reduced their target price on shares of Bed Bath & Beyond from $39.00 to $38.00 and set a neutral rating on the stock in a report on Friday, April 7th. Citigroup Inc. reduced their target price on shares of Bed Bath & Beyond from $40.00 to $35.00 and set a sell rating on the stock in a report on Friday, April 7th. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of Bed Bath & Beyond in a report on Thursday, April 6th. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $41.06.

Bed Bath & Beyond (NASDAQ:BBBY) traded down 1.778% on Monday, reaching $34.525. The company’s stock had a trading volume of 1,021,863 shares. Bed Bath & Beyond has a 52 week low of $33.63 and a 52 week high of $48.83. The stock has a market capitalization of $4.93 billion, a P/E ratio of 7.538 and a beta of 1.01. The firm has a 50 day moving average price of $35.77 and a 200 day moving average price of $39.59.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, April 5th. The retailer reported $1.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.50 billion. Bed Bath & Beyond had a net margin of 5.61% and a return on equity of 26.26%. Bed Bath & Beyond’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.91 EPS. On average, equities analysts anticipate that Bed Bath & Beyond will post $4.31 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Friday, June 16th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.71%. This is an increase from Bed Bath & Beyond’s previous quarterly dividend of $0.13. Bed Bath & Beyond’s payout ratio is presently 13.04%.

In other news, insider Arthur Stark sold 8,933 shares of the business’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $39.73, for a total value of $354,908.09. Following the completion of the sale, the insider now owns 149,595 shares of the company’s stock, valued at approximately $5,943,409.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven H. Temares sold 96,109 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $37.37, for a total transaction of $3,591,593.33. Following the completion of the sale, the chief executive officer now directly owns 629,415 shares of the company’s stock, valued at approximately $23,521,238.55. The disclosure for this sale can be found here. Insiders sold a total of 349,706 shares of company stock valued at $13,679,409 in the last three months. Insiders own 5.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Bed Bath & Beyond during the first quarter worth $873,000. Achmea Investment Management B.V. acquired a new stake in shares of Bed Bath & Beyond during the first quarter worth $2,974,000. Summit Global Investments increased its stake in shares of Bed Bath & Beyond by 8.0% in the first quarter. Summit Global Investments now owns 32,562 shares of the retailer’s stock worth $1,285,000 after buying an additional 2,410 shares in the last quarter. Lincluden Management Ltd. increased its stake in shares of Bed Bath & Beyond by 22.7% in the first quarter. Lincluden Management Ltd. now owns 213,645 shares of the retailer’s stock worth $8,430,000 after buying an additional 39,475 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in shares of Bed Bath & Beyond by 11.6% in the first quarter. Tudor Investment Corp ET AL now owns 36,031 shares of the retailer’s stock worth $1,422,000 after buying an additional 3,732 shares in the last quarter. 92.45% of the stock is owned by institutional investors.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:BBBY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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