Bath & Body Works, Inc. (NYSE:BBWI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Bath & Body Works, Inc. (NYSE:BBWI) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $43.00.

Several research analysts have issued reports on BBWI shares. BMO Capital Markets restated an “outperform” rating and set a $50.00 target price (down previously from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. Bank of America dropped their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 29th. The Goldman Sachs Group reduced their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Robert W. Baird lowered their target price on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, Piper Sandler reduced their price target on shares of 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.

Institutional Investors Weigh In On Bath & Body Works

A number of institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of Bath & Body Works during the fourth quarter valued at about $439,000. Charles Schwab Investment Management Inc. lifted its position in Bath & Body Works by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,963,919 shares of the company’s stock valued at $84,763,000 after acquiring an additional 38,272 shares during the last quarter. Principal Securities Inc. acquired a new stake in Bath & Body Works in the fourth quarter valued at approximately $377,000. NBC Securities Inc. purchased a new position in Bath & Body Works in the fourth quarter worth $223,000. Finally, QRG Capital Management Inc. increased its position in shares of Bath & Body Works by 3.1% during the fourth quarter. QRG Capital Management Inc. now owns 45,981 shares of the company’s stock worth $1,985,000 after purchasing an additional 1,402 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Up 6.2 %

BBWI stock opened at $28.91 on Tuesday. The stock has a market cap of $6.45 billion, a PE ratio of 7.45, a P/E/G ratio of 0.86 and a beta of 1.77. Bath & Body Works has a 12 month low of $26.20 and a 12 month high of $52.99. The company has a 50-day moving average price of $33.18 and a 200 day moving average price of $41.17.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s payout ratio is 20.62%.

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.