Bath & Body Works (NYSE:BBWI) Price Target Raised to $38.00 at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price objective raised by Wells Fargo & Company from $32.00 to $38.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts have also weighed in on BBWI. Piper Sandler lifted their price objective on shares of Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup cut their target price on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Evercore ISI cut 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 report on Wednesday, August 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $42.00 target price on shares of Bath & Body Works in a report on Monday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $50.00 target price (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $35.23 on Tuesday. The firm has a fifty day moving average of $30.69 and a two-hundred day moving average of $35.74. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 0.98 and a beta of 1.79. Bath & Body Works has a 52 week low of $26.20 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its earnings results 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. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. As a group, research analysts forecast that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.27%. Bath & Body Works’s payout ratio is 19.37%.

Insider Activity at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Community Trust NA bought a new position in shares of Bath & Body Works in the 2nd quarter valued at about $30,000. True Wealth Design LLC grew its position in shares of Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after acquiring an additional 1,054 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after acquiring an additional 900 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Bath & Body Works in the 3rd quarter valued at about $39,000. Finally, TD Private Client Wealth LLC grew its position in shares of Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after acquiring an additional 331 shares during the period. Institutional investors own 95.14% of the company’s stock.

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.