Piper Sandler Issues Positive Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its price objective boosted by Piper Sandler from $35.00 to $36.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently issued reports on BBWI. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Citigroup reduced their price objective on 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. BMO Capital Markets reiterated an “outperform” rating and issued a $50.00 target price (down from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. Barclays cut Bath & Body Works from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $31.00 to $28.00 in a research note on Friday, November 8th. Finally, Evercore ISI lowered their price objective on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Stock Down 1.5 %

Shares of NYSE BBWI opened at $35.23 on Tuesday. The stock has a market cap of $7.72 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.98 and a beta of 1.79. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99. The business has a 50-day moving average price of $30.69 and a 200 day moving average price of $35.74.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. Sell-side analysts anticipate that Bath & Body Works will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is currently 19.37%.

Insider Buying and Selling

In other news, CEO Gina Boswell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 2.53 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bath & Body Works

Large investors have recently added to or reduced their stakes in the business. First Community Trust NA purchased a new stake in shares of Bath & Body Works in the second quarter valued at about $30,000. True Wealth Design LLC raised its position in shares of Bath & Body Works by 5,270.0% during the 3rd 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 last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of 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 purchased a new stake in Bath & Body Works in the 3rd quarter valued at approximately $39,000. Finally, TD Private Client Wealth LLC grew its holdings in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after buying an additional 331 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Company Profile

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.