Short Interest in Bed Bath & Beyond (BBBY) Increases By 15.3%

Bed Bath & Beyond (NASDAQ:BBBY) saw a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 22,866,124 shares, a growth of 15.3% from the April 13th total of 19,833,894 shares. Based on an average daily volume of 5,269,486 shares, the short-interest ratio is currently 4.3 days. Approximately 16.9% of the shares of the company are short sold.

Several brokerages have recently weighed in on BBBY. BidaskClub upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. JPMorgan Chase lowered shares of Bed Bath & Beyond from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $23.03 to $18.00 in a research report on Friday, January 26th. Telsey Advisory Group reiterated a “market perform” rating on shares of Bed Bath & Beyond in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Tuesday, February 20th. Finally, ValuEngine lowered shares of Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Twelve analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $22.61.

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A number of hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC lifted its holdings in Bed Bath & Beyond by 10.0% during the 4th quarter. Verition Fund Management LLC now owns 29,909 shares of the retailer’s stock valued at $658,000 after purchasing an additional 2,715 shares during the last quarter. Point View Wealth Management Inc. raised its stake in shares of Bed Bath & Beyond by 30.0% in the first quarter. Point View Wealth Management Inc. now owns 13,681 shares of the retailer’s stock worth $287,000 after acquiring an additional 3,156 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Bed Bath & Beyond by 2.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 148,498 shares of the retailer’s stock worth $3,106,000 after acquiring an additional 3,296 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Bed Bath & Beyond by 7.0% in the first quarter. Systematic Financial Management LP now owns 56,045 shares of the retailer’s stock worth $1,176,000 after acquiring an additional 3,645 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Bed Bath & Beyond by 15.0% in the fourth quarter. Macquarie Group Ltd. now owns 35,300 shares of the retailer’s stock worth $776,000 after acquiring an additional 4,600 shares during the last quarter. 92.94% of the stock is owned by hedge funds and other institutional investors.

Shares of Bed Bath & Beyond opened at $16.91 on Friday, MarketBeat reports. Bed Bath & Beyond has a 12-month low of $16.69 and a 12-month high of $17.01. The stock has a market cap of $2.36 billion, a P/E ratio of 5.42, a PEG ratio of -3.67 and a beta of 1.01. The company has a quick ratio of 0.57, a current ratio of 1.83 and a debt-to-equity ratio of 0.52.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, April 11th. The retailer reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. Bed Bath & Beyond had a net margin of 3.44% and a return on equity of 16.45%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the firm posted $1.84 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. equities research analysts expect that Bed Bath & Beyond will post 2.29 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Friday, June 15th will be issued a dividend of $0.16 per share. This is an increase from Bed Bath & Beyond’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, June 14th. Bed Bath & Beyond’s dividend payout ratio (DPR) is currently 19.23%.

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 juvenile products.

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