Bath & Body Works (NYSE:BBWI) Rating Lowered to Underweight at Barclays

Barclays downgraded shares of Bath & Body Works (NYSE:BBWI) from an equal weight rating to an underweight rating in a report published on Friday, Marketbeat reports. The firm currently has $28.00 price target on the stock, down from their prior price target of $31.00.

Several other equities analysts also recently commented on BBWI. Evercore ISI dropped their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research note on Wednesday, August 28th. Bank of America cut their price target on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. The Goldman Sachs Group reduced their price target on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Morgan Stanley lowered their price objective on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Finally, Robert W. Baird reduced their target price on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.44.

Bath & Body Works Trading Up 5.0 %

Shares of NYSE BBWI opened at $31.51 on Friday. The stock has a fifty day simple moving average of $30.02 and a 200-day simple moving average of $36.77. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99. The stock has a market capitalization of $6.90 billion, a PE ratio of 7.63, a PEG ratio of 0.95 and a beta of 1.79.

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

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.54%. Bath & Body Works’s dividend payout ratio is presently 19.37%.

Insiders Place Their Bets

In other news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds have recently made changes to their positions in the business. First Community Trust NA purchased a new stake in Bath & Body Works during the 2nd quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares during the period. Meeder Asset Management Inc. raised its stake in shares of Bath & Body Works by 480.3% during the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after purchasing an additional 1,436 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Bath & Body Works by 65.4% during the second quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after purchasing an additional 730 shares during the period. Finally, EntryPoint Capital LLC grew its position in Bath & Body Works by 224.0% in the 1st quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after buying an additional 1,017 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.