Bed Bath & Beyond (NASDAQ:BBBY) Given New $16.00 Price Target at Loop Capital

Bed Bath & Beyond (NASDAQ:BBBY) had its price target boosted by Loop Capital to $16.00 in a report released on Friday, March 29th, The Fly reports. The brokerage currently has an average rating on the retailer’s stock.

A number of other research firms have also commented on BBBY. Wells Fargo & Co reaffirmed a sell rating and issued a $13.00 price objective on shares of Bed Bath & Beyond in a research note on Tuesday, March 26th. Bank of America upgraded shares of Bed Bath & Beyond from an underperform rating to a buy rating and increased their target price for the stock from $11.00 to $21.00 in a research report on Tuesday, March 26th. KeyCorp upgraded shares of Bed Bath & Beyond from an underweight rating to a sector weight rating in a research report on Tuesday, March 26th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a sell rating to a hold rating in a report on Thursday, March 28th. Finally, BidaskClub upgraded shares of Bed Bath & Beyond from a buy rating to a strong-buy rating in a report on Friday, February 15th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Bed Bath & Beyond currently has a consensus rating of Hold and a consensus target price of $17.61.

BBBY opened at $16.88 on Friday. Bed Bath & Beyond has a fifty-two week low of $10.46 and a fifty-two week high of $21.44. The stock has a market cap of $2.48 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 6.07 and a beta of 1.16. The company has a current ratio of 1.86, a quick ratio of 0.55 and a debt-to-equity ratio of 0.58.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, April 10th. The retailer reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Bed Bath & Beyond had a negative net margin of 1.14% and a positive return on equity of 9.77%. During the same period last year, the firm posted $1.48 earnings per share. Sell-side analysts predict that Bed Bath & Beyond will post 1.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, June 14th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.68 dividend on an annualized basis and a yield of 4.03%. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.16. Bed Bath & Beyond’s payout ratio is currently 31.22%.

A number of hedge funds and other institutional investors have recently modified their holdings of BBBY. Norges Bank bought a new stake in shares of Bed Bath & Beyond in the fourth quarter worth $27,760,000. Contrarius Investment Management Ltd lifted its position in shares of Bed Bath & Beyond by 32.9% in the fourth quarter. Contrarius Investment Management Ltd now owns 9,207,291 shares of the retailer’s stock worth $104,227,000 after purchasing an additional 2,276,723 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bed Bath & Beyond by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,259,473 shares of the retailer’s stock worth $127,458,000 after purchasing an additional 1,317,631 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Bed Bath & Beyond by 1,688.8% in the third quarter. Renaissance Technologies LLC now owns 1,280,060 shares of the retailer’s stock worth $19,201,000 after purchasing an additional 1,208,502 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Bed Bath & Beyond by 241.2% during the third quarter. Deutsche Bank AG now owns 1,504,913 shares of the retailer’s stock worth $22,570,000 after acquiring an additional 1,063,793 shares in the last quarter. Hedge funds and other institutional investors own 97.48% 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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