Bed Bath & Beyond Inc. (NASDAQ:BBBY)’s share price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $23.47, but opened at $23.97. Bed Bath & Beyond shares last traded at $24.57, with a volume of 10022711 shares traded.

The retailer reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Bed Bath & Beyond had a return on equity of 21.74% and a net margin of 4.64%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 16th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.44%. Bed Bath & Beyond’s payout ratio is 15.42%.

Several brokerages recently weighed in on BBBY. Moffett Nathanson began coverage on Bed Bath & Beyond in a research note on Monday, December 4th. They issued a “neutral” rating on the stock. ValuEngine raised Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. KeyCorp reduced their price target on Bed Bath & Beyond from $21.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 15th. Robert W. Baird set a $23.00 price target on Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Finally, Zacks Investment Research cut Bed Bath & Beyond from a “hold” rating to a “strong sell” rating in a research note on Friday, September 22nd. Nine equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company’s stock. Bed Bath & Beyond presently has an average rating of “Hold” and an average target price of $27.88.

Several large investors have recently made changes to their positions in BBBY. Ffcm LLC lifted its holdings in shares of Bed Bath & Beyond by 2,958.6% during the third quarter. Ffcm LLC now owns 4,435 shares of the retailer’s stock valued at $104,000 after purchasing an additional 4,290 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in Bed Bath & Beyond by 928.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,836 shares of the retailer’s stock valued at $117,000 after acquiring an additional 3,463 shares during the period. Psagot Investment House Ltd. bought a new position in Bed Bath & Beyond in the third quarter valued at about $217,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Bed Bath & Beyond in the third quarter valued at about $222,000. Finally, Point View Wealth Management Inc. lifted its holdings in Bed Bath & Beyond by 55.9% in the second quarter. Point View Wealth Management Inc. now owns 8,020 shares of the retailer’s stock valued at $244,000 after acquiring an additional 2,876 shares during the period. 91.72% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.33 and a current ratio of 1.77. The company has a market capitalization of $3,430.00, a price-to-earnings ratio of 5.87 and a beta of 1.10.

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Bed Bath & Beyond Company Profile

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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