Bed Bath & Beyond Inc. (NASDAQ:BBBY) was the target of a significant decline in short interest during the month of September. As of September 28th, there was short interest totalling 28,426,685 shares, a decline of 5.2% from the September 14th total of 30,000,227 shares. Approximately 21.4% of the company’s stock are short sold. Based on an average daily volume of 11,171,178 shares, the days-to-cover ratio is currently 2.5 days.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Towle & Co. lifted its position in Bed Bath & Beyond by 35.4% during the second quarter. Towle & Co. now owns 1,809,040 shares of the retailer’s stock valued at $36,045,000 after purchasing an additional 472,860 shares during the period. Strs Ohio acquired a new position in Bed Bath & Beyond during the second quarter valued at $1,436,000. OMERS ADMINISTRATION Corp acquired a new position in Bed Bath & Beyond during the second quarter valued at $406,000. Riverhead Capital Management LLC lifted its position in Bed Bath & Beyond by 89.6% during the second quarter. Riverhead Capital Management LLC now owns 27,720 shares of the retailer’s stock valued at $552,000 after purchasing an additional 13,100 shares during the period. Finally, United Services Automobile Association lifted its position in Bed Bath & Beyond by 696.6% during the second quarter. United Services Automobile Association now owns 172,136 shares of the retailer’s stock valued at $9,858,000 after purchasing an additional 150,527 shares during the period. Institutional investors own 93.17% of the company’s stock.
BBBY has been the topic of several analyst reports. BidaskClub lowered shares of Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 12th. Credit Suisse Group set a $20.00 price target on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a report on Friday, June 29th. Standpoint Research lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Wedbush set a $18.00 price objective on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Thursday, September 13th. Ten investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $17.07.
NASDAQ:BBBY opened at $13.53 on Friday. Bed Bath & Beyond has a 12 month low of $13.41 and a 12 month high of $24.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.60. The firm has a market cap of $2.10 billion, a PE ratio of 4.51, a P/E/G ratio of 7.43 and a beta of 0.96.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, September 26th. The retailer reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.13). Bed Bath & Beyond had a return on equity of 12.52% and a net margin of 2.81%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that Bed Bath & Beyond will post 2.02 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 4.73%. Bed Bath & Beyond’s dividend payout ratio is presently 20.51%.
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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