Bath & Body Works (NYSE:BBWI – Get Rating) had its price target raised by Morgan Stanley from $66.00 to $72.00 in a research report report published on Friday, The Fly reports.
Several other equities research analysts have also recently weighed in on BBWI. UBS Group dropped their target price on Bath & Body Works from $70.00 to $42.00 and set a buy rating for the company in a report on Friday, July 15th. Raymond James initiated coverage on Bath & Body Works in a report on Tuesday, July 12th. They issued a strong-buy rating and a $45.00 price objective for the company. BMO Capital Markets increased their price objective on Bath & Body Works from $45.00 to $48.00 and gave the stock an outperform rating in a report on Thursday. Citigroup dropped their price objective on Bath & Body Works from $54.00 to $42.00 and set a buy rating for the company in a report on Thursday, July 21st. Finally, Robert W. Baird increased their price objective on Bath & Body Works from $40.00 to $48.00 and gave the stock an outperform rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a st rong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $52.19.
Bath & Body Works Price Performance
Shares of BBWI stock opened at $38.66 on Friday. The stock has a market capitalization of $8.84 billion, a PE ratio of 10.25, a P/E/G ratio of 3.56 and a beta of 1.82. Bath & Body Works has a 1-year low of $25.75 and a 1-year high of $82.00. The business has a 50-day moving average of $32.83 and a 200 day moving average of $43.26.
Bath & Body Works (NYSE:BBWI – Get Rating) last issued its earnings results on Wednesday, August 17th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.11. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Bath & Body Works had a negative return on equity of 57.40% and a net margin of 12.31%. Bath & Body Works’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 EPS. Analysts anticipate that Bath & Body Works will post 2.81 EPS for the current year.
Bath & Body Works Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 19th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, August 18th. Bath & Body Works’s dividend payout ratio (DPR) is presently 21.22%.
Insider Activity at Bath & Body Works
In other Bath & Body Works news, insider Thomas E. Mazurek sold 16,338 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $42.25, for a total transaction of $690,280.50. Following the sale, the insider now directly owns 11,225 shares in the company, valued at approximately $474,256.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.37% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Bath & Body Works
Institutional investors and hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas lifted its position in Bath & Body Works by 53.1% during the first quarter. Teacher Retirement System of Texas now owns 148,959 shares of the company’s stock valued at $7,120,000 after purchasing an additional 51,685 shares in the last quarter. AIA Group Ltd raised its holdings in Bath & Body Works by 58.5% during the first quarter. AIA Group Ltd now owns 2,049 shares of the company’s stock valued at $98,000 after acquiring an additional 756 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Bath & Body Works during the fourth quarter valued at about $1,431,000. Hawk Ridge Capital Management LP raised its holdings in Bath & Body Works by 53.8% during the first quarter . Hawk Ridge Capital Management LP now owns 1,296,085 shares of the company’s stock valued at $61,953,000 after acquiring an additional 453,400 shares during t he period. Finally, Canada Pension Plan Investment Board raised its holdings in Bath & Body Works by 5.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 564,010 shares of the company’s stock valued at $39,362,000 after acquiring an additional 30,900 shares during the period. 97.11% of the stock is currently owned by hedge funds and other institutional investors.
Bath & Body Works Company Profile
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Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.
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