Bath & Body Works (NYSE:BBWI) Stock Price Down 3.3% After Analyst Downgrade

Bath & Body Works, Inc. (NYSE:BBWI)’s stock price dropped 3.3% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $42.00 to $39.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bath & Body Works traded as low as $31.12 and last traded at $31.22. Approximately 340,015 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,071,252 shares. The stock had previously closed at $32.29.

A number of other equities research analysts have also weighed in on the company. Bank of America lowered their target price on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday. Robert W. Baird dropped their price objective on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday. Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 price target on shares of Bath & Body Works in a report on Wednesday. UBS Group dropped their price target on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of Bath & Body Works during the fourth quarter valued at approximately $27,000. First Community Trust NA bought a new stake in Bath & Body Works in the second quarter worth $30,000. EverSource Wealth Advisors LLC grew its stake in shares of Bath & Body Works by 72.0% in 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. increased its holdings in shares of Bath & Body Works by 17.1% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after acquiring an additional 235 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in Bath & Body Works by 9,664.7% in the 4th quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock worth $72,000 after purchasing an additional 1,643 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 0.8 %

The firm has a market capitalization of $6.87 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 1.16 and a beta of 1.85. The business’s 50 day simple moving average is $35.46 and its two-hundred day simple moving average is $42.59.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. Analysts predict that Bath & Body Works, Inc. will post 3.29 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.60%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

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.