Brokerages Set Bath & Body Works, Inc. (NYSE:BBWI) PT at $48.53

Shares of Bath & Body Works, Inc. (NYSE:BBWI) have received an average recommendation of “Hold” from the fourteen analysts that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.53.

A number of brokerages have issued reports on BBWI. UBS Group raised their target price on Bath & Body Works from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. BMO Capital Markets lifted their target price on shares of Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. raised shares of Bath & Body Works from an “underweight” rating to a “neutral” rating and increased their price target for the company from $40.00 to $53.00 in a research note on Friday, May 17th. Wells Fargo & Company lifted their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler increased their price objective on Bath & Body Works from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th.

Bath & Body Works Trading Down 1.6 %

BBWI opened at $38.44 on Thursday. Bath & Body Works has a twelve month low of $27.30 and a twelve month high of $52.99. The firm has a market capitalization of $8.58 billion, a PE ratio of 9.91, a PEG ratio of 1.29 and a beta of 1.85. The firm’s 50-day moving average price is $45.84 and its 200 day moving average price is $45.14.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts predict that Bath & Body Works will post 3.29 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Bath & Body Works by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after buying an additional 1,102,124 shares in the last quarter. Lone Pine Capital LLC raised its stake in shares of Bath & Body Works by 20.0% in the fourth quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock valued at $450,973,000 after acquiring an additional 1,742,471 shares in the last quarter. Norges Bank purchased a new position in Bath & Body Works in the fourth quarter valued at $101,669,000. Darsana Capital Partners LP acquired a new position in Bath & Body Works during the 3rd quarter worth $76,050,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bath & Body Works by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,963,919 shares of the company’s stock worth $84,763,000 after purchasing an additional 38,272 shares during the period. Hedge funds and other 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.