Bath & Body Works (NYSE:BBWI) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Bath & Body Works (NYSE:BBWI) from an equal weight rating to an overweight rating in a research report released on Friday, MarketBeat reports. Wells Fargo & Company currently has $48.00 price target on the stock, up from their prior price target of $42.00.

BBWI has been the topic of several other reports. Telsey Advisory Group reissued an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a report on Monday, November 25th. Barclays lifted their price target on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, November 26th. Morgan Stanley decreased their price objective on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lifted their target price on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler upped their price target on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.06.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $36.45 on Friday. The company’s 50-day moving average price is $35.75 and its two-hundred day moving average price is $33.68. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99. The stock has a market capitalization of $7.89 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 1.43 and a beta of 1.82.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. On average, analysts anticipate that Bath & Body Works will post 3.26 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Friday, November 22nd. Bath & Body Works’s payout ratio is 19.51%.

Institutional Trading of Bath & Body Works

Several hedge funds have recently bought and sold shares of BBWI. True Wealth Design LLC lifted its holdings in shares of 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 valued at $34,000 after purchasing an additional 1,054 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after acquiring an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Bath & Body Works during the 3rd quarter worth $39,000. TD Private Client Wealth LLC grew 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 worth $54,000 after acquiring an additional 331 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Bath & Body Works by 480.3% in the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,436 shares during the last quarter. Institutional investors and hedge funds 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.