The Goldman Sachs Group Lowers Bath & Body Works (NYSE:BBWI) Price Target to $49.00

Bath & Body Works (NYSE:BBWI) had its price objective reduced by The Goldman Sachs Group from $60.00 to $49.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on BBWI. Telsey Advisory Group restated an outperform rating and issued a $53.00 target price on shares of Bath & Body Works in a report on Wednesday. Citigroup decreased 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. Raymond James dropped their price objective on Bath & Body Works from $51.00 to $42.00 and set an outperform rating on the stock in a report on Thursday. Wells Fargo & Company reduced their target price on Bath & Body Works from $48.00 to $40.00 and set an equal weight rating for the company in a report on Wednesday, July 24th. Finally, UBS Group dropped their price target on Bath & Body Works from $52.00 to $38.00 and set a neutral rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $42.50.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $31.01 on Thursday. The stock has a market cap of $6.92 billion, a PE ratio of 7.99, a P/E/G ratio of 1.16 and a beta of 1.85. The stock’s fifty day moving average is $35.68 and its two-hundred day moving average is $42.68. Bath & Body Works has a 1-year low of $27.30 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its earnings results 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. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. On average, research analysts expect that Bath & Body Works will post 3.29 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

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

Hedge Funds Weigh In On Bath & Body Works

A number of large investors have recently made changes to their positions in BBWI. GAMMA Investing LLC acquired a new position in Bath & Body Works during the fourth quarter worth $27,000. First Community Trust NA acquired a new position in shares of Bath & Body Works during the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC raised its position in Bath & Body Works by 72.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after acquiring an additional 337 shares during the last quarter. Federated Hermes Inc. lifted its stake in Bath & Body Works by 17.1% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after buying an additional 235 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its position in shares of Bath & Body Works by 9,664.7% in the fourth quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock valued at $72,000 after acquiring an additional 1,643 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.