JPMorgan Chase Cuts Bed Bath & Beyond (BBBY) Price Target to $16.00

Bed Bath & Beyond (NASDAQ:BBBY) had its price target decreased by JPMorgan Chase to $16.00 in a report issued on Thursday. JPMorgan Chase currently has an underweight rating on the retailer’s stock.

Several other research firms also recently commented on BBBY. ValuEngine downgraded shares of Bed Bath & Beyond from a buy rating to a hold rating in a research note on Thursday, March 1st. Loop Capital set a $23.00 price target on shares of Bed Bath & Beyond and gave the stock a hold rating in a research note on Thursday, January 4th. BidaskClub downgraded shares of Bed Bath & Beyond from a hold rating to a sell rating in a research note on Saturday, January 6th. Morgan Stanley set a $22.00 price target on shares of Bed Bath & Beyond and gave the stock a sell rating in a research note on Thursday, December 21st. Finally, Zacks Investment Research downgraded shares of Bed Bath & Beyond from a hold rating to a sell rating in a research note on Monday. Eleven analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $23.29.

BBBY stock traded up $0.13 during trading on Thursday, hitting $17.34. The company had a trading volume of 5,209,082 shares, compared to its average volume of 4,020,017. The company has a market capitalization of $3,061.88, a PE ratio of 5.52, a P/E/G ratio of -3.89 and a beta of 1.00. Bed Bath & Beyond has a 52-week low of $17.19 and a 52-week high of $40.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.31.



Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, April 11th. The retailer reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.07. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.68 billion. Bed Bath & Beyond had a net margin of 3.44% and a return on equity of 16.72%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 EPS. sell-side analysts forecast that Bed Bath & Beyond will post 2.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 17th. Stockholders of record on Friday, June 15th will be issued a $0.16 dividend. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Thursday, June 14th. Bed Bath & Beyond’s dividend payout ratio (DPR) is currently 19.23%.

Several large investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bed Bath & Beyond by 364.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,710,466 shares of the retailer’s stock valued at $103,583,000 after buying an additional 3,696,289 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bed Bath & Beyond by 64.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,424,108 shares of the retailer’s stock valued at $80,364,000 after buying an additional 1,336,053 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Bed Bath & Beyond by 48.3% in the 4th quarter. Schroder Investment Management Group now owns 1,992,815 shares of the retailer’s stock valued at $43,822,000 after buying an additional 649,180 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Bed Bath & Beyond by 199.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,307,910 shares of the retailer’s stock valued at $28,761,000 after buying an additional 871,390 shares in the last quarter. Finally, Towle & Co. bought a new stake in shares of Bed Bath & Beyond in the 4th quarter valued at about $22,398,000. Institutional investors and hedge funds own 91.37% of the company’s stock.

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About Bed Bath & Beyond

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 juvenile products.

Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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