Bath & Body Works (NYSE:BBWI) Price Target Raised to $42.00

Bath & Body Works (NYSE:BBWI) had its price objective lifted by TD Cowen from $40.00 to $42.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on BBWI. Piper Sandler increased their price objective on shares of Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday. Telsey Advisory Group reiterated an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research note on Monday. Bank of America reduced their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Raymond James dropped their target price on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Bath & Body Works presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Stock Performance

Shares of BBWI opened at $35.90 on Tuesday. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.14 and a beta of 1.79. The business’s fifty day moving average is $30.93 and its 200-day 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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.54 billion. As a group, research analysts forecast that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s dividend payout ratio is presently 19.51%.

Insider Activity at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was purchased at an average cost of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bath & Body Works

Several institutional investors and hedge funds have recently made changes to their positions in BBWI. First Community Trust NA acquired a new position in Bath & Body Works in the second quarter valued at approximately $30,000. True Wealth Design LLC increased its stake in shares of Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after acquiring an additional 1,054 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted 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 valued at $38,000 after acquiring an additional 900 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Bath & Body Works during the third quarter worth $39,000. Finally, TD Private Client Wealth LLC grew its holdings in Bath & Body Works by 24.2% in the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after purchasing an additional 331 shares during the period. Institutional investors 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.