Analysts Set Bath & Body Works, Inc. (NYSE:BBWI) PT at $42.25

Shares of Bath & Body Works, Inc. (NYSE:BBWI) have been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $41.88.

BBWI has been the subject of several analyst reports. UBS Group cut their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. BMO Capital Markets reiterated an “outperform” rating and set a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Evercore ISI decreased their target price on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 28th. Morgan Stanley lowered their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Finally, TD Cowen increased their price target on Bath & Body Works from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday.

Bath & Body Works Price Performance

Shares of BBWI opened at $35.90 on Friday. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79. The firm has a 50 day simple moving average of $30.93 and a 200-day simple moving average of $35.65.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, equities analysts expect that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.23%. Bath & Body Works’s payout ratio is 19.51%.

Insiders Place Their Bets

In related news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now directly 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 document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds have recently modified their holdings of BBWI. Anthracite Investment Company Inc. purchased a new position in Bath & Body Works in the 3rd quarter worth approximately $2,921,000. Principal Financial Group Inc. grew its holdings in Bath & Body Works by 328.7% during the 3rd 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 increased its stake in 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 buying an additional 40,793 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Bath & Body Works by 404.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company’s stock worth $4,295,000 after buying an additional 107,868 shares in the last quarter. Finally, Forest Avenue Capital Management LP boosted its position in Bath & Body Works by 19.1% in the 3rd quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company’s stock valued at $46,851,000 after buying an additional 235,173 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other 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.