Bed Bath & Beyond (NASDAQ:BBBY) PT Lowered to $13.00 at Robert W. Baird

Bed Bath & Beyond (NASDAQ:BBBY) had its price objective reduced by Robert W. Baird from $18.00 to $13.00 in a research note released on Thursday morning, The Fly reports. Robert W. Baird currently has a neutral rating on the retailer’s stock.

A number of other brokerages also recently issued reports on BBBY. Deutsche Bank lifted their price target on Bed Bath & Beyond from $15.00 to $19.00 and gave the company a hold rating in a report on Thursday, April 11th. Morgan Stanley reiterated an underweight rating and issued a C$18.00 price target on shares of WestJet Airlines in a report on Friday, April 5th. ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. UBS Group restated a buy rating and set a $70.00 target price on shares of Lumentum in a research note on Thursday, April 11th. Finally, Wells Fargo & Co restated a sell rating on shares of American States Water in a research note on Tuesday, March 26th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $15.55.

Shares of NASDAQ:BBBY opened at $10.89 on Thursday. Bed Bath & Beyond has a 12-month low of $10.43 and a 12-month high of $20.38. The firm has a fifty day moving average of $12.11. The stock has a market cap of $1.40 billion, a P/E ratio of 5.31, a PEG ratio of 5.76 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.52 and a quick ratio of 0.62.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. Bed Bath & Beyond had a positive return on equity of 9.49% and a negative net margin of 4.66%. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business posted $0.32 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. Sell-side analysts forecast that Bed Bath & Beyond will post 1.91 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.68 annualized dividend and a yield of 6.24%. Bed Bath & Beyond’s dividend payout ratio (DPR) is 33.17%.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Bed Bath & Beyond by 3.5% during the 1st quarter. BlackRock Inc. now owns 17,001,610 shares of the retailer’s stock worth $288,858,000 after acquiring an additional 574,944 shares during the period. FMR LLC lifted its position in Bed Bath & Beyond by 1.8% during the 4th quarter. FMR LLC now owns 14,716,001 shares of the retailer’s stock worth $166,586,000 after acquiring an additional 264,950 shares during the period. Dimensional Fund Advisors LP lifted its position in Bed Bath & Beyond by 13.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,259,473 shares of the retailer’s stock worth $127,458,000 after acquiring an additional 1,317,631 shares during the period. Bank of New York Mellon Corp lifted its position in Bed Bath & Beyond by 21.6% during the 4th quarter. Bank of New York Mellon Corp now owns 3,251,750 shares of the retailer’s stock worth $36,810,000 after acquiring an additional 578,035 shares during the period. Finally, OppenheimerFunds Inc. lifted its position in Bed Bath & Beyond by 961.2% during the 1st quarter. OppenheimerFunds Inc. now owns 2,600,532 shares of the retailer’s stock worth $44,183,000 after acquiring an additional 2,355,487 shares during the period. Hedge funds and other institutional investors own 97.43% 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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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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