Goldman Sachs Group Begins Coverage on Bed Bath & Beyond (NASDAQ:BBBY)

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Goldman Sachs Group initiated coverage on shares of Bed Bath & Beyond (NASDAQ:BBBY) in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The firm issued a sell rating and a $11.00 target price on the retailer’s stock.

BBBY has been the subject of a number of other reports. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Green Brick Partners from a sell rating to a hold rating in a research report on Wednesday, April 10th. Telsey Advisory Group restated a market perform rating and issued a $14.00 price objective (down from $20.00) on shares of Bed Bath & Beyond in a research report on Wednesday, July 3rd. Deutsche Bank raised their price objective on shares of Bed Bath & Beyond from $15.00 to $19.00 and gave the company a hold rating in a research report on Thursday, April 11th. Finally, Wedbush raised their price objective on shares of Columbia Sportswear from $111.00 to $113.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $15.55.

BBBY opened at $10.89 on Thursday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 5.31, a price-to-earnings-growth ratio of 5.76 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.52 and a quick ratio of 0.62. The stock has a 50-day simple moving average of $12.11. Bed Bath & Beyond has a twelve month low of $10.43 and a twelve month high of $20.38.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. Bed Bath & Beyond had a negative net margin of 4.66% and a positive return on equity of 9.49%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the company earned $0.32 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. On average, research analysts expect that Bed Bath & Beyond will post 1.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.68 annualized dividend and a yield of 6.24%. Bed Bath & Beyond’s payout ratio is presently 33.17%.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Bed Bath & Beyond by 3.5% during the first quarter. BlackRock Inc. now owns 17,001,610 shares of the retailer’s stock valued at $288,858,000 after purchasing an additional 574,944 shares during the last quarter. FMR LLC lifted its position in Bed Bath & Beyond by 1.8% during the fourth quarter. FMR LLC now owns 14,716,001 shares of the retailer’s stock valued at $166,586,000 after purchasing an additional 264,950 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Bed Bath & Beyond by 13.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,259,473 shares of the retailer’s stock valued at $127,458,000 after purchasing an additional 1,317,631 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Bed Bath & Beyond by 21.6% during the fourth quarter. Bank of New York Mellon Corp now owns 3,251,750 shares of the retailer’s stock valued at $36,810,000 after purchasing an additional 578,035 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its position in Bed Bath & Beyond by 961.2% during the first quarter. OppenheimerFunds Inc. now owns 2,600,532 shares of the retailer’s stock valued at $44,183,000 after purchasing an additional 2,355,487 shares during the last quarter. Institutional investors and hedge funds own 97.43% 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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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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