Bed Bath & Beyond Inc. (NASDAQ:BBBY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “Bed Bath & Beyond remains focused on strategic initiatives like store expansion, eCommerce enhancement and improvement of customer services, which remain growth catalysts. The latest buyout of One Kings Lane, which highlights its focus on acquisitions, is likely to enable the company to combat competition from eCommerce giants and boost results. However, sluggish mall traffic and high promotional costs pose concerns. Further, owing to its exposure to global markets, the company faces various risks associated with international operations, like currency fluctuations. Also, the company's lowered comps view, and expectations of SG&A expense and gross margin deleverage for fiscal 2016 raises concerns. Of late, estimates have been going down ahead of the company’s second-quarter earnings release.”

A number of other brokerages have also recently issued reports on BBBY. Vetr raised shares of Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 25th. Wedbush reissued a “neutral” rating and issued a $42.00 price objective on shares of Bed Bath & Beyond in a research note on Tuesday, August 2nd. BTIG Research assumed coverage on shares of Bed Bath & Beyond in a research note on Wednesday, June 1st. They issued a “neutral” rating on the stock. Credit Suisse Group AG initiated coverage on shares of Bed Bath & Beyond in a research note on Monday, July 18th. They issued a “neutral” rating and a $41.00 price objective on the stock. Finally, KeyCorp reaffirmed an “underweight” rating on shares of Bed Bath & Beyond in a research note on Saturday, June 25th. Eight research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $50.20.

Shares of Bed Bath & Beyond (NASDAQ:BBBY) opened at 43.05 on Monday. The company’s 50-day moving average price is $44.93 and its 200 day moving average price is $45.70. The firm has a market cap of $6.50 billion, a P/E ratio of 8.59 and a beta of 0.72. Bed Bath & Beyond has a 52 week low of $41.15 and a 52 week high of $61.90.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, June 22nd. The retailer reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by $0.06. The firm earned $2.74 billion during the quarter. Bed Bath & Beyond had a net margin of 6.66% and a return on equity of 31.15%. Bed Bath & Beyond’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 earnings per share. On average, equities analysts anticipate that Bed Bath & Beyond will post $4.83 earnings per share for the current year.

In other Bed Bath & Beyond news, COO Eugene A. Castagna sold 17,866 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $45.86, for a total value of $819,334.76. Following the completion of the sale, the chief operating officer now directly owns 140,630 shares of the company’s stock, valued at approximately $6,449,291.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.70% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of BBBY. Kovitz Investment Group Partners LLC bought a new position in Bed Bath & Beyond during the first quarter worth $43,119,000. Geode Capital Management LLC increased its position in Bed Bath & Beyond by 8.1% in the first quarter. Geode Capital Management LLC now owns 1,585,151 shares of the retailer’s stock worth $78,554,000 after buying an additional 118,898 shares in the last quarter. FirstMerit Bank N A Trustee increased its position in Bed Bath & Beyond by 7.2% in the second quarter. FirstMerit Bank N A Trustee now owns 8,893 shares of the retailer’s stock worth $384,000 after buying an additional 600 shares in the last quarter. Magnetar Financial LLC increased its position in Bed Bath & Beyond by 0.5% in the first quarter. Magnetar Financial LLC now owns 8,107 shares of the retailer’s stock worth $402,000 after buying an additional 38 shares in the last quarter. Finally, Norges Bank bought a new position in Bed Bath & Beyond during the fourth quarter worth $88,509,000. 95.16% of the stock is owned by institutional investors and hedge funds.

About Bed Bath & Beyond

Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).

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