|Bid||10.52 x 1300|
|Ask||10.54 x 21500|
|Day's Range||10.48 - 10.97|
|52 Week Range||7.31 - 19.59|
|Beta (3Y Monthly)||1.50|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 2, 2019|
|Forward Dividend & Yield||0.68 (6.23%)|
|1y Target Est||13.92|
Bed Bath & Beyond (NASDAQ:BBBY) stock has long been a "value trap." The company has traded at a low valuation for years. But the company faces tough challenges. Amazon (NASDAQ:AMZN) and other e-commerce giants threaten its business model. But more aggressive investors are finding value in this deeply-discounted retailer.Source: Jonathan Weiss / Shutterstock.com Activist hedge funds (led by Legion Partners) have taken a position in BBBY stock. The activists had initial success shaking up the board, but investors soon lost interest in a BBBY turnaround. * 7 Discount Retail Stocks to Buy for a Recession Real catalysts are finally emerging as the company hired Goldman Sachs to help with asset sales. With BBBY stock selling at a fraction of its intrinsic value, interest from buyers may indicate short-term upside. Since making the announcement in late August, shares are up from $8.63 a share to $10.64 a share at the close Sept. 13. Does this mean its time to buy Bed Bath & Beyond stock? Let's see if there's additional upside on the table.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Unlocking Value With BBBY StockBack in March, a group of activists (Legion Partners, Marcellum Advisors, Ancora Advisors) took a position in BBBY stock. Their intent was to replace the current board with their hand-picked slate of directors. Shares soared from about $14 a share up to $19.57 a share. The activist group failed to completely takeover BBBY's board, but managed to get the CEO ousted and get several new directors added to the board.But the activist catalyst soon dissipated. Shares crashed, falling more than 50% from this 52-week high. But the activists may now have the chance to do their magic. The company hired Goldman Sachs to advise on offers for several BBBY subsidiaries.BBBY has short interest of 53%. This means short-sellers have taken bearish positions equal to more than half of the company's market cap. But any positive news at the company could lead to a share surge. This is due to short-sellers having to cover their positions.Selling non-core business would boost BBBY stock. The company could use the proceeds to do a share buyback. They could also use the money to fuel a turnaround. The company issued a press release on Sept. 4 detailing their strategy. Bed Bath & Beyond plans on closing under-performing stores and reducing inventory by $1 billion over the next 18 months.There seem to be interested buyers waiting in the wings. A former executive wants to buy BBBY's Cost Plus unit for $250 million. The company's Personalization Mall business has offers of $250-$300 million from 1-800-Flowers.com (NASDAQ:FLWS) and Things Remembered. Oak Street Real Estate wants to buy up BBBY's real estate.But what is the underlying value of Bed Bath & Beyond stock? Can the company profit from a corporate yard sale? Or is the upside already priced in? Let's take a look at the intrinsic value of BBBY stock. Bed Bath & Beyond Stock Valuation"Sum of the parts" is the best way to value BBBY stock. The company could easily sell its non-core retail chains. They could do a sale-leaseback of their company-owned real estate. Combined with inventory reductions, a material amount of capital could be extracted, all while maintaining the core Bed Bath & Beyond chain.Legion Partners detailed this in their July investor letter. Along with the flagship Bed Bath & Beyond chain, BBBY owns buybuyBABY, Cost Plus World Markets, Christmas Tree Shops, and Harmon Face Values. The company also owns over 4.4 million square feet of real estate. Legion gives a conservative valuation of $1.2 billion for the non-core chains. Their estimate of the underlying real estate value is $600 million.Bed Bath & Beyond has a market cap of $1.3 billion. The company has over $900 million in cash and short-term investments, and $3.78 billion in outstanding debt. Its enterprise value is $4.2 billion. Subtract the potential asset sales, and investors are essentially getting the flagship chain for free. Legion estimates the core business generates $500 million per year in EBITDA.However, most stock screeners include BBBY's $2.19 billion in short and long-term operating lease liabilities as debt. Legion Partner's estimates exclude this amount. Keep this in mind when using their valuation metrics, however, Legion also estimates the company could double EBITDA to $1 billion a year. Assigning a 6.2x EBITDA multiple values the core business at $6.5 billion. Subtracting the lease liabilities would leave investors with approximately $4.3 billion valuation, more than three times the company's current market value. BBBY Stock Worth A ConsiderationBBBY stock is not a slam-dunk value play. The company is undervalued, but the numbers are not as crystal clear as Legion Partners implies. The company faces tough competitive headwinds. Its planned turnaround may not pay off.But with a high level of short interest, a spate of good news could push shares higher. It could take years for Bed Bath & Beyond stock to completely turnaround. At the current valuation levels, however, there is sufficient margin of safety for aggressive investors to take a position.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Big IPO Stocks From 2019 to Watch * 7 Discount Retail Stocks to Buy for a Recession * 7 Stocks to Buy Benefiting From Millennial Money The post Activist Investors Could Unlock Value of BBBY Stock appeared first on InvestorPlace.
Moody's Investors Service ("Moody's") affirms the Ba2 on $113.8 million Kapkowski Road Landfill Reclamation Improvement District Project Bonds, issued by the New Jersey Economic Development Authority. The Ba2 rating reflects the healthy cash flow from the Mills at Jersey Gardens Mall, whose payment-in-lieu-of-tax (PILOT) secures the bonds. Tenant sales remain strong year-over-year which is underpinned by strong property management by JG Elizabeth II, LLC (JGE II) as a wholly owned subsidiary of Simon Property Group, L.P. (Senior Unsecured, A2, Stable).
While most investors continue to be fed the same old song and dance about ecommerce giant Amazon's ongoing disruption of the retail sector in 2019, something interesting has been quietly happening... Retail stocks have started working again. Retail stocks have been ripping higher in the last few weeks, with the big S&P 500 Retail Index surging more than 7.4% higher since the middle of August - about double the upside of the rest of the S&P over that same stretch.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) stock is about to trade ex-dividend in 3 days time. If you purchase the stock on...
If national retail trends are any indication, some retailers may be facing an uphill battle when it comes to keeping their stores open in Orlando and beyond. U.S. retailers have announced 8,051 store closures and 3,401 store openings as of August 2019, compared to 5,844 closures and 3,258 openings for all of 2018, according to Coresight Research. Part of that struggle is the competition for customers versus online retailers, Florida Retail Federation Senior Director of External Affairs James Miller previously told Orlando Business Journal.
In response to activist investor pressure, nine new board members have been named and the search for a new CEO is nearly over.
Bed Bath & Beyond (BBBY) aims at rapid refresh of around 160 namesake stores before 2019 holiday season. Also, the company anticipates an aggressive inventory reduction of up to $1 billion.
Bed Bath & Beyond Inc. late Wednesday promised shareholders a "rapid refresh" of more than 160 of the company's stores ahead of the holiday season and an "aggressive reduction" of up to $1 billion in inventory as the retailer struggles to improve its bottom line. The company also vowed to close underperforming stores in the next couple of years, to embark on a longer-term store renovation schedule for those remaining, and to change sourcing and buying practices to increase the sales of its private-label merchandise, among other measures. Bed Bath & Beyond said it has made "substantial progress" in its search for a new chief executive and expects to announce a new CEO in the coming weeks. "While our teams are moving rapidly to address many near-term opportunities to stabilize the business and lay the foundation for sustainable growth, these are just the first steps in the company's ongoing business transformation," Bed Bath & Beyond said in a statement. Shares of the company were flat in the extended session after ending the regular trading day up 1.4%.
In recent months, we have initiated significant changes at Bed Bath & Beyond, including at the Board level and across the entire organization. Our objectives are to accelerate improvement in our financial performance, enhance our competitive positioning and ensure we have a best-in-class governance structure. While in its early stages, the transformation underway is advancing, and we wanted to share an update on the progress we are making toward achieving these objectives.
Bed Bath & Beyond stock has gained almost 10% since reports Thursday that the company is looking at offers for several of its core businesses, and Raymond James thinks the shares still have room to rise.
The best Labor Day sales 2019 can be hard to find, but InvestorPlace is here to help.Source: Shutterstock We've put together a collection of some of the best Labor Day sales 2019 in the following list. * 2017 12.9-inch iPad Pro 2017 -- This Apple (NASDAQ:AAPL) tablet is down to $699 at B&H for the holiday, which is $560 less than its normal price. * Beats Solo 3 Wireless -- Customers can pick these up at Best Buy (NYSE:BBY) for $160, which is $140 off from the regular price. * iRobot Roomba -- Bed Bath & Beyond (NASDAQ:BBBY) is offering these handy little vacuums for as much as $150 off the normal price. * Appliances -- A deal at Home Depot (NYSE:HD) includes up to 40% off on appliances and special offers when buying full sets from some brands. * Home Improvement -- Lowe's (NYSE:LOW) has a collection of deals for the holiday that includes some indoor options being as much as 40% off. * Sceptre 65-inch 4K TV -- Customers shopping at Walmart (NYSE:WMT) are able to pick one of these up for just $399, which is $500 off the typical price. * 32-inch Toshiba Fire TV + Echo Dot -- This deal on Amazon (NASDAQ:AMZN) gets customers both of these items for $130, which is a steal at $100 off the regular price. * Furniture -- Anyone looking to pick up some new furniture can get as much as 75% off this weekend when shopping at Wayfair (NYSE:W). * Mattresses -- Need a new mattress to go with that furniture? Luckily, just about all mattress companies are looking to move inventory this weekend with deep discounts. * 7 Stocks to Buy Down 10% in the Past Week You can follow these links to check out some more of the best Labor Day sales 2019.InvestorPlace - Stock Market News, Stock Advice & Trading Tips More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy Down 10% in the Past Week * 15 Retail Survivors to Buy for the Long Run * 7 Stocks That Wall Street Thinks Could Rise 50% Or More As of this writing, William White did not hold a position in any of the aforementioned securities.The post The Best Labor Day Sales 2019: 9 Deals to Snap Up This Weekend appeared first on InvestorPlace.
Investing.com - Bed Bath&Beyond; (NASDAQ:BBBY) surged on Thursday on an unconfirmed report that the retailer is looking to explore potential takeover bids.
The ratings on nine principal and interest (P&I) classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. The rating on the exchangeable class, Cl. PST, was affirmed due to the credit quality of the referenced exchangeable classes. The performance expectations for a given variable indicate Moody's forward-looking view of the likely range of performance over the medium term.
On CNBC's "Fast Money Halftime Report," Pete Najarian said options traders were buying the Sept. $9 calls in Bed Bath & Beyond Inc. (NASDAQ: BBBY). Najarian jumped in the trade and he is going to hold it for about a week. Around 15,000 contracts of the Oct. $28 calls were traded in Corning Incorporated (NYSE: GLW), said Najarian.
Strong results from major retailers are pulling consumer discretionary stocks higher Wednesday. What does this mean for Bed Bath & Beyond investors?