Bath & Body Works (NYSE:BBWI) Price Target Raised to $34.00

Bath & Body Works (NYSE:BBWI) had its target price upped by Barclays from $28.00 to $34.00 in a report published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

BBWI has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their target price on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Piper Sandler upped their price objective on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday. Raymond James dropped 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. Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research report on Monday, November 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. One investment 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. According to MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Stock Performance

NYSE BBWI opened at $36.29 on Tuesday. The company 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. The stock has a 50-day moving average of $31.05 and a 200 day moving average of $35.65. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99.

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 the consensus estimate 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities analysts predict that Bath & Body Works will post 3.24 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.20 dividend. 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 is currently 19.51%.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the acquisition, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bath & Body Works

Several hedge funds have recently modified their holdings of the stock. Anthracite Investment Company Inc. bought a new position in shares of Bath & Body Works during the third quarter worth $2,921,000. Principal Financial Group Inc. grew its position in shares of Bath & Body Works by 328.7% during the third quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after purchasing an additional 820,379 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Bath & Body Works by 18.1% during the 3rd quarter. New York State Teachers Retirement System now owns 266,235 shares of the company’s stock worth $8,498,000 after acquiring an additional 40,793 shares in the last quarter. Forest Avenue Capital Management LP raised its stake in Bath & Body Works by 19.1% during the third quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company’s stock valued at $46,851,000 after purchasing an additional 235,173 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Bath & Body Works by 404.4% during the third quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company’s stock valued at $4,295,000 after purchasing an additional 107,868 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.