Bath & Body Works (NYSE:BBWI) Price Target Raised to $38.00

Bath & Body Works (NYSE:BBWI) had its target price lifted by Wells Fargo & Company from $32.00 to $38.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts have also issued reports on the stock. UBS Group dropped their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. BMO Capital Markets restated an “outperform” rating and set a $50.00 price objective (down previously from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Bank of America reduced their target price on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Piper Sandler upped their price target on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Evercore ISI decreased their price objective on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Bath & Body Works Trading Up 1.1 %

Shares of Bath & Body Works stock opened at $36.29 on Tuesday. The firm has a fifty day simple moving average of $31.05 and a 200-day simple moving average of $35.65. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.35 and a beta of 1.79. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts predict that Bath & Body Works will post 3.24 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.20%. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Insiders Place Their Bets

In related news, CEO Gina Boswell acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Community Trust NA acquired a new position in shares of Bath & Body Works during the second quarter valued at $30,000. True Wealth Design LLC increased its position in Bath & Body Works by 5,270.0% in the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after purchasing an additional 1,054 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after purchasing an additional 900 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bath & Body Works during the 3rd quarter valued at about $39,000. Finally, TD Private Client Wealth LLC boosted its stake in shares of Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after purchasing an additional 331 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.