Bath & Body Works (NYSE:BBWI) Price Target Cut to $45.00 by Analysts at Bank of America

Bath & Body Works (NYSE:BBWI) had its price objective trimmed by Bank of America from $54.00 to $45.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Citigroup dropped their price objective on shares of Bath & Body Works from $48.00 to $35.00 and set a neutral rating for the company in a research note on Tuesday, August 20th. Piper Sandler reduced their price target on Bath & Body Works from $47.00 to $39.00 and set a neutral rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an underweight rating to a neutral rating and lifted their target price for the stock from $40.00 to $53.00 in a research report on Friday, May 17th. Wells Fargo & Company decreased their price target on shares of Bath & Body Works from $48.00 to $40.00 and set an equal weight rating for the company in a research report on Wednesday, July 24th. Finally, Evercore ISI cut their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an in-line rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Bath & Body Works presently has a consensus rating of Moderate Buy and a consensus target price of $42.50.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $31.01 on Thursday. The company’s 50-day moving average is $35.68 and its 200-day moving average is $42.68. Bath & Body Works has a fifty-two week low of $27.30 and a fifty-two week high of $52.99. The firm has a market capitalization of $6.92 billion, a PE ratio of 7.99, a P/E/G ratio of 1.16 and a beta of 1.85.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, analysts expect that Bath & Body Works will post 3.29 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.58%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BBWI. Anomaly Capital Management LP bought a new position in shares of Bath & Body Works in the second quarter valued at approximately $113,995,000. Norges Bank purchased a new position in shares of Bath & Body Works during the 4th quarter valued at $101,669,000. Lone Pine Capital LLC increased its holdings in shares of Bath & Body Works by 20.0% in the fourth quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock worth $450,973,000 after purchasing an additional 1,742,471 shares during the period. Sound Shore Management Inc. CT raised its position in shares of Bath & Body Works by 379.2% in the fourth quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock worth $82,145,000 after buying an additional 1,506,110 shares in the last quarter. Finally, Cadian Capital Management LP bought a new stake in shares of Bath & Body Works during the 4th quarter valued at about $58,266,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.