Bath & Body Works (NYSE:BBWI) PT Lowered to $40.00 at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its target price trimmed by Wells Fargo & Company from $48.00 to $40.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also weighed in on BBWI. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bath & Body Works from $53.00 to $57.00 in a research report on Monday, June 3rd. Telsey Advisory Group reiterated an outperform rating and set a $53.00 target price on shares of Bath & Body Works in a research report on Tuesday, June 4th. BMO Capital Markets increased 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 report on Wednesday, June 5th. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an underweight rating to a neutral rating and increased their target price for the stock from $40.00 to $53.00 in a research report on Friday, May 17th. Finally, Piper Sandler cut their target price on shares of Bath & Body Works from $47.00 to $39.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $47.60.

Bath & Body Works Price Performance

NYSE BBWI opened at $34.17 on Wednesday. Bath & Body Works has a 1 year low of $27.30 and a 1 year high of $52.99. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 1.13 and a beta of 1.85. The company has a fifty day moving average price of $42.08 and a 200-day moving average price of $44.30.

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

Bath & Body Works Announces Dividend

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

Institutional Investors Weigh In On Bath & Body Works

Institutional investors and hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc raised its stake in Bath & Body Works by 3.7% in the fourth quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock valued at $42,136,000 after purchasing an additional 35,261 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Bath & Body Works by 28.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after acquiring an additional 56,764 shares during the last quarter. Russell Investments Group Ltd. grew its position in Bath & Body Works by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock valued at $6,572,000 after acquiring an additional 41,995 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in Bath & Body Works during the fourth quarter valued at approximately $1,618,000. Finally, Vanguard Group Inc. grew its position in Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after acquiring an additional 1,102,124 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.