Bed Bath & Beyond Inc. (NASDAQ:BBBY) Short Interest Down 11.0% in December

Bed Bath & Beyond Inc. (NASDAQ:BBBY) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 52,320,000 shares, a drop of 11.0% from the December 15th total of 58,800,000 shares. Currently, 43.4% of the company’s shares are sold short. Based on an average daily trading volume, of 8,200,000 shares, the short-interest ratio is presently 6.4 days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBBY. Vanguard Group Inc. grew its holdings in shares of Bed Bath & Beyond by 20.2% in the 2nd quarter. Vanguard Group Inc. now owns 15,982,481 shares of the retailer’s stock valued at $185,717,000 after acquiring an additional 2,684,312 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Bed Bath & Beyond by 25.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,089,772 shares of the retailer’s stock valued at $43,515,000 after acquiring an additional 838,679 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Bed Bath & Beyond by 505.0% in the 2nd quarter. Invesco Ltd. now owns 3,712,146 shares of the retailer’s stock valued at $43,135,000 after acquiring an additional 3,098,546 shares in the last quarter. Man Group plc grew its holdings in shares of Bed Bath & Beyond by 250.5% in the 2nd quarter. Man Group plc now owns 2,910,357 shares of the retailer’s stock valued at $33,819,000 after acquiring an additional 2,079,908 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Bed Bath & Beyond by 15.9% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,335,915 shares of the retailer’s stock valued at $24,854,000 after acquiring an additional 320,917 shares in the last quarter.

Shares of BBBY traded down $0.18 during midday trading on Thursday, hitting $15.39. The stock had a trading volume of 3,285,541 shares, compared to its average volume of 8,384,515. The company has a 50 day simple moving average of $15.80 and a two-hundred day simple moving average of $12.13. Bed Bath & Beyond has a twelve month low of $7.31 and a twelve month high of $19.57. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 2.90 and a beta of 1.36. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.41 and a quick ratio of 0.47.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings results on Wednesday, January 8th. The retailer reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.41). Bed Bath & Beyond had a negative net margin of 7.06% and a positive return on equity of 8.09%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. Analysts forecast that Bed Bath & Beyond will post 1.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Friday, March 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Thursday, March 12th. Bed Bath & Beyond’s dividend payout ratio is 33.17%.

BBBY has been the topic of a number of recent research reports. Zacks Investment Research upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Wednesday, December 18th. Raymond James raised Bed Bath & Beyond to a “buy” rating in a research note on Thursday, October 10th. Bank of America reissued a “buy” rating and issued a $21.00 price target on shares of Bed Bath & Beyond in a research note on Thursday, January 9th. BidaskClub raised Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Finally, UBS Group cut their price target on Bed Bath & Beyond from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Bed Bath & Beyond currently has an average rating of “Hold” and a consensus price target of $15.17.

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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