Bed Bath & Beyond Inc. (NASDAQ:BBBY) Short Interest Up 5.9% in June

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Bed Bath & Beyond Inc. (NASDAQ:BBBY) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 62,661,100 shares, a growth of 5.9% from the May 30th total of 59,191,100 shares. Approximately 47.4% of the shares of the company are short sold. Based on an average trading volume of 5,670,000 shares, the days-to-cover ratio is presently 11.1 days.

Shares of NASDAQ BBBY opened at $10.80 on Wednesday. The firm has a 50-day moving average of $11.86. Bed Bath & Beyond has a 52-week low of $10.43 and a 52-week high of $19.68. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 5.50 and a beta of 1.19. The company has a current ratio of 1.52, a quick ratio of 0.48 and a debt-to-equity ratio of 1.58.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities analysts expect that Bed Bath & Beyond will post 1.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend is Thursday, September 12th. Bed Bath & Beyond’s dividend payout ratio is currently 33.17%.

Several large investors have recently bought and sold shares of BBBY. Norges Bank purchased a new position in shares of Bed Bath & Beyond in the fourth quarter worth about $27,760,000. OppenheimerFunds Inc. lifted its stake in shares of Bed Bath & Beyond by 961.2% in the first quarter. OppenheimerFunds Inc. now owns 2,600,532 shares of the retailer’s stock worth $44,183,000 after buying an additional 2,355,487 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Bed Bath & Beyond by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,259,473 shares of the retailer’s stock worth $127,458,000 after buying an additional 1,317,631 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Bed Bath & Beyond by 21.6% in the fourth quarter. Bank of New York Mellon Corp now owns 3,251,750 shares of the retailer’s stock worth $36,810,000 after buying an additional 578,035 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Bed Bath & Beyond by 3.5% in the first quarter. BlackRock Inc. now owns 17,001,610 shares of the retailer’s stock worth $288,858,000 after buying an additional 574,944 shares in the last quarter. 97.43% of the stock is currently owned by hedge funds and other institutional investors.

BBBY has been the topic of a number of research reports. Jefferies Financial Group increased their price objective on shares of Wynn Resorts from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. Raymond James set a $19.00 price objective on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Friday, July 12th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Wedbush raised their price target 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 issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Bed Bath & Beyond currently has a consensus rating of “Hold” and a consensus target price of $15.55.

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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