BidaskClub Upgrades Bed Bath & Beyond (BBBY) to Buy
BBBY has been the topic of several other research reports. Zacks Investment Research lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Telsey Advisory Group reissued a “market perform” rating and issued a $13.00 price target (down from $16.00) on shares of Bed Bath & Beyond in a research note on Friday, January 4th. Wedbush reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Bed Bath & Beyond in a research note on Friday, January 4th. Wells Fargo & Co reaffirmed a “sell” rating and issued a $11.00 price target on shares of Bed Bath & Beyond in a research note on Monday, January 7th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $12.00 price objective (up previously from $9.00) on shares of Bed Bath & Beyond in a research report on Friday, January 11th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $16.53.
Shares of NASDAQ BBBY opened at $18.47 on Wednesday. Bed Bath & Beyond has a one year low of $10.46 and a one year high of $21.63. The company has a current ratio of 1.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 6.80 and a beta of 1.15.
In other news, Director Jordan Heller sold 19,554 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $15.26, for a total transaction of $298,394.04. Following the transaction, the director now directly owns 5,647 shares of the company’s stock, valued at $86,173.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Bed Bath & Beyond in the fourth quarter valued at $27,760,000. Contrarius Investment Management Ltd lifted its position in shares of Bed Bath & Beyond by 32.9% in the 4th quarter. Contrarius Investment Management Ltd now owns 9,207,291 shares of the retailer’s stock worth $104,227,000 after purchasing an additional 2,276,723 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Bed Bath & Beyond by 13.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,259,473 shares of the retailer’s stock worth $127,458,000 after purchasing an additional 1,317,631 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Bed Bath & Beyond by 1,688.8% during the 3rd quarter. Renaissance Technologies LLC now owns 1,280,060 shares of the retailer’s stock valued at $19,201,000 after purchasing an additional 1,208,502 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Bed Bath & Beyond by 241.2% during the 3rd quarter. Deutsche Bank AG now owns 1,504,913 shares of the retailer’s stock valued at $22,570,000 after purchasing an additional 1,063,793 shares in the last quarter. 97.48% of the stock is owned by institutional investors.
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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