Goldman Sachs Group Begins Coverage on Bed Bath & Beyond (NASDAQ:BBBY)

Goldman Sachs Group initiated coverage on shares of Bed Bath & Beyond (NASDAQ:BBBY) in a research note published on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a sell rating and a $11.00 price target on the retailer’s stock.

Several other research analysts have also issued reports on the stock. Wedbush increased their target price on shares of Columbia Sportswear from $111.00 to $113.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Citigroup cut their target price on shares of GrafTech International from $21.00 to $17.00 and set a buy rating on the stock in a research note on Monday, April 1st. Evercore ISI started coverage on shares of Polarityte in a research note on Wednesday, March 20th. They set an outperform rating and a $26.00 target price on the stock. KeyCorp raised shares of Bed Bath & Beyond from an underweight rating to a sector weight rating in a research note on Tuesday, March 26th. Finally, ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. 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 company’s stock. Bed Bath & Beyond presently has an average rating of Hold and a consensus price target of $15.55.

Shares of NASDAQ BBBY opened at $10.89 on Thursday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 5.31, a PEG ratio of 5.76 and a beta of 1.19. Bed Bath & Beyond has a 12-month low of $10.43 and a 12-month high of $20.38. The business’s fifty day moving average is $12.11. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 1.52.



Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.58 billion. Bed Bath & Beyond had a negative net margin of 4.66% and a positive return on equity of 9.49%. Bed Bath & Beyond’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, equities analysts anticipate that Bed Bath & Beyond will post 1.91 EPS for the current year.

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

Several institutional investors have recently added to or reduced their stakes in BBBY. Norges Bank bought a new position in shares of Bed Bath & Beyond in the fourth quarter valued at $27,760,000. OppenheimerFunds Inc. raised its holdings in shares of Bed Bath & Beyond by 961.2% in the first quarter. OppenheimerFunds Inc. now owns 2,600,532 shares of the retailer’s stock valued at $44,183,000 after purchasing an additional 2,355,487 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 valued at $127,458,000 after purchasing an additional 1,317,631 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bed Bath & Beyond by 21.6% in the fourth quarter. Bank of New York Mellon Corp now owns 3,251,750 shares of the retailer’s stock valued at $36,810,000 after purchasing an additional 578,035 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Bed Bath & Beyond by 3.5% in the first quarter. BlackRock Inc. now owns 17,001,610 shares of the retailer’s stock valued at $288,858,000 after purchasing an additional 574,944 shares during the last quarter. 97.43% of the stock is currently owned by hedge funds and other institutional investors.

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 various juvenile products.

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

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