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

Bath & Body Works (NYSE:BBWI) had its target price raised by Wells Fargo & Company from $38.00 to $42.00 in a research note released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

BBWI has been the topic of several other research reports. Barclays upped their price objective on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, November 26th. UBS Group decreased their price target on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. BMO Capital Markets reissued an “outperform” rating and set a $50.00 price objective (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Raymond James reduced their target price on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Bath & Body Works Trading Up 2.2 %

NYSE BBWI opened at $38.22 on Thursday. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The company has a 50 day moving average of $32.59 and a 200-day moving average of $34.68. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.44 and a beta of 1.83.

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

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.09%. Bath & Body Works’s dividend payout ratio is presently 19.51%.

Insider Buying and Selling at Bath & Body Works

In related news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 2.53 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bath & Body Works

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC grew its holdings in Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after purchasing an additional 1,054 shares during the period. 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Bath & Body Works in the third quarter valued at about $39,000. TD Private Client Wealth LLC lifted its stake in shares of Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after buying an additional 331 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Bath & Body Works by 480.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after buying an additional 1,436 shares during the period. Institutional investors 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.