Nomura Securities Maintains a 'Neutral' Bed Bath and Beyond (BBBY); 10-K Filed by Green Mountain Coffee (GMCR)

Nomura Securities maintains a 'Neutral' Bed Bath and Beyond (NASDAQ: BBBY) price target of $63.00.

Nomura analyst, Aram Rubinson, said, "Green Mountain Coffee (Nasdaq: GMCR)filed its 10-K earlier this week. In the filing, GMCR discloses what percent of its sales are to Bed Bath & Beyond. BBBY’s exposure to GMCR has become a heightened topic of conversation ever since GMCR missed its FQ1 revenue forecast. We estimate GMCR represented 4.5% of BBBY’s sales last year. Using the filing, we estimate that sales of GMCR products drove ~80bp of BBBY’s LTM comp of ~7.0%. While it is true that we do not see any other item that can become 4.5% of BBBY sales in short order, we are confident that BBBY’s merchants are industrious enough to grow beyond Keurig."

For an analyst ratings summary and ratings history on Bed Bath and Beyond click here. For more ratings news on Bed Bath and Beyond click here.

Shares of Bed Bath and Beyond closed at $61.59 yesterday.

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