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

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

A number of other equities analysts also recently issued reports on BBWI. Deutsche Bank Aktiengesellschaft lifted their price target on Bath & Body Works from $53.00 to $57.00 in a research note on Monday, June 3rd. JPMorgan Chase & Co. upgraded Bath & Body Works from an underweight rating to a neutral rating and upped their price target for the stock from $40.00 to $53.00 in a report on Friday, May 17th. Piper Sandler dropped their price objective on Bath & Body Works from $47.00 to $39.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Telsey Advisory Group reiterated an outperform rating and issued a $53.00 target price on shares of Bath & Body Works in a research note on Tuesday, June 4th. Finally, BMO Capital Markets raised their price target on shares of Bath & Body Works from $50.00 to $55.00 and gave the company an outperform rating in a research report on Wednesday, June 5th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $47.60.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $34.17 on Wednesday. The stock has a market capitalization of $7.63 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 1.09 and a beta of 1.85. Bath & Body Works has a 52 week low of $27.30 and a 52 week high of $52.99. The stock has a 50 day moving average price of $42.08 and a two-hundred day moving average price of $44.30.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted $0.33 EPS. Bath & Body Works’s quarterly revenue was down .9% on a year-over-year basis. Research analysts forecast that Bath & Body Works will post 3.29 EPS for the current year.

Bath & Body Works Announces Dividend

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

Hedge Funds Weigh In On Bath & Body Works

Several institutional investors have recently bought and sold shares of BBWI. Wellington Management Group LLP raised its stake in shares of Bath & Body Works by 22.0% in the third quarter. Wellington Management Group LLP now owns 114,601 shares of the company’s stock valued at $3,874,000 after buying an additional 20,703 shares during the period. SG Americas Securities LLC raised its stake in Bath & Body Works by 18.0% in the 4th quarter. SG Americas Securities LLC now owns 17,860 shares of the company’s stock valued at $771,000 after acquiring an additional 2,724 shares during the period. Douglas Lane & Associates LLC bought a new stake in Bath & Body Works in the 4th quarter valued at about $211,000. Assenagon Asset Management S.A. lifted its holdings in Bath & Body Works by 5,449.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 395,942 shares of the company’s stock valued at $17,089,000 after purchasing an additional 388,807 shares during the last quarter. Finally, Everett Harris & Co. CA increased its stake in shares of Bath & Body Works by 16.3% in the fourth quarter. Everett Harris & Co. CA now owns 46,467 shares of the company’s stock worth $2,006,000 after purchasing an additional 6,521 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.