Bath & Body Works (NYSE:BBWI) PT Lowered to $51.00 at Morgan Stanley

Bath & Body Works (NYSE:BBWI) had its price target decreased by Morgan Stanley from $56.00 to $51.00 in a report released on Thursday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research analysts also recently commented on the company. Bank of America decreased their price objective on Bath & Body Works from $54.00 to $45.00 and set a buy rating on the stock in a report on Thursday, August 29th. Raymond James lowered their price objective on Bath & Body Works from $51.00 to $42.00 and set an outperform rating for the company in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bath & Body Works from $57.00 to $54.00 and set a buy rating on the stock in a report on Monday, August 26th. The Goldman Sachs Group lowered their price target on shares of Bath & Body Works from $60.00 to $49.00 and set a buy rating for the company in a report on Thursday, August 29th. Finally, Barclays cut 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 report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $43.00.

Bath & Body Works Stock Performance

Shares of BBWI opened at $28.59 on Thursday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 1.04 and a beta of 1.77. The firm has a 50 day moving average price of $34.42 and a 200-day moving average price of $42.03. Bath & Body Works has a fifty-two week low of $27.30 and a fifty-two week high of $52.99.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. Bath & Body Works’s dividend payout ratio (DPR) is 20.62%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Bath & Body Works in the fourth quarter worth about $439,000. National Bank of Canada FI grew its holdings in shares of Bath & Body Works by 68.7% in the fourth quarter. National Bank of Canada FI now owns 179,363 shares of the company’s stock valued at $8,026,000 after purchasing an additional 73,072 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Bath & Body Works by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,963,919 shares of the company’s stock worth $84,763,000 after buying an additional 38,272 shares in the last quarter. Hills Bank & Trust Co increased its stake in Bath & Body Works by 4.9% during the fourth quarter. Hills Bank & Trust Co now owns 22,915 shares of the company’s stock worth $989,000 after acquiring an additional 1,069 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Bath & Body Works during the 4th quarter valued at approximately $377,000. 95.14% of the stock is currently owned by institutional investors.

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.