UBS Group Raises Bed Bath & Beyond (BBBY) Price Target to $18.00
Bed Bath & Beyond (NASDAQ:BBBY) had its target price lifted by UBS Group from $13.00 to $18.00 in a report released on Thursday, The Fly reports. UBS Group currently has a neutral rating on the retailer’s stock.
A number of other analysts also recently commented on the stock. Raymond James upgraded shares of Bed Bath & Beyond from an outperform rating to a strong-buy rating and set a $20.00 price target on the stock in a research report on Tuesday, March 26th. Bank of America set a $11.00 price target on shares of Bed Bath & Beyond and gave the stock a sell rating in a research report on Thursday, January 10th. Wedbush dropped their price target on shares of Bed Bath & Beyond from $15.00 to $14.00 and set a neutral rating on the stock in a research report on Thursday, January 10th. Wells Fargo & Co restated a sell rating and set a $11.00 price target on shares of Bed Bath & Beyond in a research report on Monday, January 7th. Finally, Wolfe Research restated an underperform rating and set a $12.00 price target (up from $9.00) on shares of Bed Bath & Beyond in a research report on Friday, January 11th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Bed Bath & Beyond presently has an average rating of Hold and a consensus target price of $17.61.
Shares of NASDAQ:BBBY opened at $17.99 on Thursday. The stock has a market capitalization of $2.48 billion, a P/E ratio of 8.78, a PEG ratio of 6.07 and a beta of 1.16. Bed Bath & Beyond has a fifty-two week low of $10.46 and a fifty-two week high of $21.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.55 and a current ratio of 1.86.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, June 14th will be issued a $0.17 dividend. This is an increase from Bed Bath & Beyond’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Thursday, June 13th. Bed Bath & Beyond’s payout ratio is presently 31.22%.
In related news, Director Jordan Heller sold 19,554 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $15.26, for a total value of $298,394.04. Following the sale, the director now directly owns 5,647 shares in the company, valued at approximately $86,173.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBBY. First Citizens Bank & Trust Co. grew its position in Bed Bath & Beyond by 52.8% during the first quarter. First Citizens Bank & Trust Co. now owns 22,569 shares of the retailer’s stock valued at $383,000 after purchasing an additional 7,795 shares in the last quarter. NuWave Investment Management LLC grew its position in Bed Bath & Beyond by 146.7% during the first quarter. NuWave Investment Management LLC now owns 24,801 shares of the retailer’s stock valued at $422,000 after purchasing an additional 14,749 shares in the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new position in Bed Bath & Beyond during the first quarter valued at approximately $8,387,000. Geode Capital Management LLC grew its position in Bed Bath & Beyond by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 1,707,564 shares of the retailer’s stock valued at $19,328,000 after purchasing an additional 165,899 shares in the last quarter. Finally, Norges Bank purchased a new position in Bed Bath & Beyond during the fourth quarter valued at approximately $27,760,000. Institutional investors and hedge funds own 97.48% of the company’s stock.
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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