Bath & Body Works (NYSE:BBWI) Price Target Raised to $36.00

Bath & Body Works (NYSE:BBWI) had its price target raised by Piper Sandler from $35.00 to $36.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on BBWI. JPMorgan Chase & Co. reduced their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Barclays lowered shares of Bath & Body Works from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $31.00 to $28.00 in a research note on Friday, November 8th. BMO Capital Markets reiterated an “outperform” rating and set a $50.00 price objective (down from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. Raymond James decreased their target price on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Robert W. Baird dropped their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $36.29 on Tuesday. The firm’s 50 day simple moving average is $31.05 and its 200-day simple moving average is $35.65. Bath & Body Works has a 12 month low of $26.20 and a 12 month high of $52.99. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.35 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data 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. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Analysts anticipate that Bath & Body Works will post 3.24 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was acquired 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 trade represents a 2.53 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bath & Body Works

A number of hedge funds have recently added to or reduced their stakes in BBWI. California State Teachers Retirement System raised its position in Bath & Body Works by 1.4% in the 1st quarter. California State Teachers Retirement System now owns 345,749 shares of the company’s stock valued at $17,294,000 after purchasing an additional 4,695 shares in the last quarter. Tidal Investments LLC lifted its stake in Bath & Body Works by 223.9% in the first quarter. Tidal Investments LLC now owns 19,398 shares of the company’s stock worth $970,000 after acquiring an additional 13,410 shares during the last quarter. Atria Investments Inc acquired a new position in Bath & Body Works during the 1st quarter worth approximately $1,058,000. Northwest Bank & Trust Co increased its position in shares of Bath & Body Works by 2.5% in the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock valued at $655,000 after purchasing an additional 315 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Bath & Body Works by 1.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock valued at $1,560,000 after purchasing an additional 322 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.