Bath & Body Works (NYSE:BBWI) Price Target Raised to $39.00

Bath & Body Works (NYSE:BBWI) had its target price raised by Piper Sandler from $36.00 to $39.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on BBWI. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. TD Cowen raised their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. lifted their target price on shares of Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Barclays increased their price target on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, November 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Bath & Body Works in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.69.

Bath & Body Works Trading Up 0.2 %

Shares of BBWI stock opened at $36.94 on Monday. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The firm’s 50 day moving average is $35.43 and its 200-day moving average is $33.78. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 1.43 and a beta of 1.82.

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

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Friday, November 22nd. Bath & Body Works’s payout ratio is currently 19.51%.

Institutional Trading of Bath & Body Works

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP bought a new stake in Bath & Body Works in the 3rd quarter valued at $8,129,000. Forest Avenue Capital Management LP raised its position in shares of Bath & Body Works by 19.1% in 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 during the period. Anthracite Investment Company Inc. acquired a new stake in shares of Bath & Body Works during the 3rd quarter worth about $2,921,000. Principal Financial Group Inc. boosted its holdings in shares of 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 worth $34,153,000 after buying an additional 820,379 shares during the period. Finally, iA Global Asset Management Inc. grew its stake in Bath & Body Works by 1,078.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company’s stock valued at $1,575,000 after buying an additional 45,144 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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.