Analysts Set Bath & Body Works, Inc. (NYSE:BBWI) Price Target at $48.13

Shares of Bath & Body Works, Inc. (NYSE:BBWI) have been given an average rating of “Hold” by the fourteen brokerages that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $47.60.

Several brokerages recently issued reports on BBWI. JPMorgan Chase & Co. raised shares of Bath & Body Works from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $40.00 to $53.00 in a report on Friday, May 17th. Piper Sandler cut their price target on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. BMO Capital Markets lifted their price target on shares of Bath & Body Works from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bath & Body Works from $53.00 to $57.00 in a research note on Monday, June 3rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a research note on Tuesday, June 4th.

Institutional Investors Weigh In On Bath & Body Works

Several large investors have recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in Bath & Body Works by 17.1% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after purchasing an additional 235 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Bath & Body Works by 5.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock valued at $279,000 after purchasing an additional 277 shares in the last quarter. Empirical Finance LLC increased its stake in Bath & Body Works by 3.6% in the first quarter. Empirical Finance LLC now owns 8,097 shares of the company’s stock valued at $405,000 after purchasing an additional 278 shares in the last quarter. Comerica Bank increased its stake in Bath & Body Works by 0.9% in the fourth quarter. Comerica Bank now owns 33,091 shares of the company’s stock valued at $1,428,000 after purchasing an additional 280 shares in the last quarter. Finally, CWM LLC increased its stake in Bath & Body Works by 6.6% in the second quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after purchasing an additional 314 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $34.17 on Monday. The firm’s 50-day simple moving average is $42.08 and its 200-day simple moving average is $44.30. Bath & Body Works has a twelve month low of $27.30 and a twelve month high of $52.99. The firm has a market cap of $7.63 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.85.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm posted $0.33 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts forecast that Bath & Body Works will post 3.29 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.20 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.80 annualized dividend and a yield of 2.34%. Bath & Body Works’s dividend payout ratio is currently 20.62%.

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.