Bath & Body Works (NYSE:BBWI) Price Target Raised to $42.00 at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price objective boosted by Wells Fargo & Company from $38.00 to $42.00 in a report issued on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. Morgan Stanley reduced their price target on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. raised their target price on Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. TD Cowen boosted their price target on Bath & Body Works from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Evercore ISI reduced their price objective on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group lowered their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.50.

Bath & Body Works Stock Up 2.2 %

Shares of NYSE:BBWI opened at $38.22 on Thursday. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99. The company’s 50 day moving average price is $32.59 and its two-hundred day moving average price is $34.68. The firm has a market cap of $8.28 billion, a PE ratio of 9.32, a PEG ratio of 1.44 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the business earned $0.48 earnings per share. Bath & Body Works’s revenue was up 3.1% on a year-over-year basis. On average, research analysts expect that Bath & Body Works will post 3.26 EPS for the current year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, November 22nd. Bath & Body Works’s payout ratio is currently 19.51%.

Insider Transactions at Bath & Body Works

In related news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by company insiders.

Institutional Trading of Bath & Body Works

Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in Bath & Body Works by 50.8% during the 3rd quarter. Franklin Resources Inc. now owns 265,221 shares of the company’s stock worth $8,230,000 after purchasing an additional 89,350 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bath & Body Works during the third quarter worth $39,000. Bard Financial Services Inc. bought a new position in Bath & Body Works during the third quarter worth $412,000. TD Private Client Wealth LLC lifted its holdings in Bath & Body Works by 24.2% in the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after buying an additional 331 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Bath & Body Works by 30.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 137,610 shares of the company’s stock valued at $4,393,000 after buying an additional 32,233 shares during the period. 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.