Bath & Body Works’ (BBWI) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Bath & Body Works (NYSE:BBWI) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $43.00 target price on the stock.

A number of other analysts also recently issued reports on BBWI. Piper Sandler raised their price target on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a research report on Thursday. Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. raised shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $47.00 in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Bath & Body Works presently has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Bath & Body Works Trading Up 1.0 %

BBWI stock opened at $36.22 on Thursday. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 0.92 and a beta of 1.83. Bath & Body Works has a 12 month low of $26.20 and a 12 month high of $52.99. The firm has a 50-day moving average of $37.70 and a two-hundred day moving average of $34.13.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.05. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, equities analysts forecast that Bath & Body Works will post 3.3 earnings per share for the current year.

Bath & Body Works announced that its Board of Directors has authorized a share buyback plan on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.20 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.21%. Bath & Body Works’s payout ratio is 19.51%.

Institutional Investors Weigh In On Bath & Body Works

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in Bath & Body Works during the 3rd quarter worth $8,129,000. Forest Avenue Capital Management LP raised its stake in Bath & Body Works by 19.1% during the 3rd quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company’s stock worth $46,851,000 after acquiring an additional 235,173 shares in the last quarter. Anthracite Investment Company Inc. acquired a new stake in Bath & Body Works during the 3rd quarter worth $2,921,000. Principal Financial Group Inc. raised its stake in Bath & Body Works by 328.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock worth $34,153,000 after acquiring an additional 820,379 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its stake in Bath & Body Works by 1,078.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company’s stock worth $1,575,000 after acquiring an additional 45,144 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.