Bath & Body Works (NYSE:BBWI) Price Target Raised to $38.00

Bath & Body Works (NYSE:BBWI) had its price target increased by Wells Fargo & Company from $32.00 to $38.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group dropped their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Raymond James lowered their price target on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a report on Monday. Finally, Barclays raised their target price on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $35.90 on Tuesday. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The firm has a market capitalization of $7.87 billion, a PE ratio of 8.76, a P/E/G ratio of 1.14 and a beta of 1.79. The stock’s 50-day simple moving average is $30.93 and its 200-day simple moving average is $35.65.

Bath & Body Works (NYSE:BBWI) last issued 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. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Sell-side analysts forecast that Bath & Body Works will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is presently 19.51%.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Institutional Trading of Bath & Body Works

A number of institutional investors have recently made changes to their positions in BBWI. CWM LLC raised its stake in Bath & Body Works by 6.6% in the 2nd quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after purchasing an additional 314 shares during the last quarter. Northwest Bank & Trust Co raised its position in shares of Bath & Body Works by 2.5% in the first quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock valued at $655,000 after buying an additional 315 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Bath & Body Works by 1.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after buying an additional 322 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Bath & Body Works by 24.2% during the third 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 during the last quarter. Finally, Citizens & Northern Corp grew its stake in Bath & Body Works by 1.7% during the 2nd quarter. Citizens & Northern Corp now owns 29,465 shares of the company’s stock valued at $1,151,000 after acquiring an additional 487 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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.