Bath & Body Works (NYSE:BBWI) Stock Rating Reaffirmed by Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Bath & Body Works (NYSE:BBWI) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $42.00 price objective on the stock.

A number of other research analysts have also recently issued reports on BBWI. JPMorgan Chase & Co. cut their price objective on Bath & Body Works from $42.00 to $39.00 and set a neutral rating for the company in a report on Thursday, August 29th. Barclays reduced their price target on shares of Bath & Body Works from $32.00 to $31.00 and set an equal weight rating on the stock in a research report on Thursday, August 29th. UBS Group dropped their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a neutral rating for the company in a report on Thursday, August 29th. Wells Fargo & Company reduced their target price on Bath & Body Works from $48.00 to $40.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. Finally, Evercore ISI decreased their price target on Bath & Body Works from $45.00 to $35.00 and set an in-line rating on the stock in a research report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Bath & Body Works currently has a consensus rating of Moderate Buy and a consensus target price of $42.35.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $32.39 on Thursday. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99. The firm has a market capitalization of $7.23 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.77. The company’s fifty day moving average price is $31.85 and its two-hundred day moving average price is $40.24.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. Analysts predict that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Hedge Funds Weigh In On Bath & Body Works

Large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of Bath & Body Works during the 2nd quarter valued at $2,855,000. Quarry LP increased its holdings in Bath & Body Works by 320.7% in the second quarter. Quarry LP now owns 3,795 shares of the company’s stock valued at $148,000 after purchasing an additional 2,893 shares during the last quarter. Creative Planning lifted its stake in Bath & Body Works by 8.1% in the second quarter. Creative Planning now owns 16,648 shares of the company’s stock valued at $650,000 after buying an additional 1,254 shares during the period. Scientech Research LLC bought a new position in Bath & Body Works during the second quarter worth about $1,520,000. Finally, Shellback Capital LP grew its position in shares of Bath & Body Works by 242.9% during the 2nd quarter. Shellback Capital LP now owns 240,000 shares of the company’s stock worth $9,372,000 after buying an additional 170,000 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.