Bath & Body Works (NYSE:BBWI) Price Target Raised to $43.00

by · The Markets Daily

Bath & Body Works (NYSE:BBWI – Free Report) had its price target raised by JPMorgan Chase & Co. from $41.00 to $43.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently issued reports on BBWI. Robert W. Baird lifted their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Piper Sandler set a $39.00 target price on Bath & Body Works and gave the company an “overweight” rating in a research report on Thursday, May 15th. The Goldman Sachs Group lowered their target price on Bath & Body Works from $49.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Raymond James lowered their target price on Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Bath & Body Works presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.56.

Check Out Our Latest Stock Report on Bath & Body Works

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $31.14 on Monday. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87. The stock’s 50-day moving average is $30.19 and its 200-day moving average is $34.01. Bath & Body Works has a one year low of $24.96 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI – Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. On average, equities analysts expect that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, June 6th. Bath & Body Works’s dividend payout ratio (DPR) is presently 21.98%.

Bath & Body Works declared that its Board of Directors has authorized a share repurchase program on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Bath & Body Works

A number of institutional investors have recently bought and sold shares of BBWI. Park Avenue Securities LLC acquired a new position in Bath & Body Works during the fourth quarter worth approximately $270,000. UMB Bank n.a. lifted its holdings in Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after purchasing an additional 335 shares during the last quarter. Missouri Trust & Investment Co boosted its stake in Bath & Body Works by 7.2% in the 4th quarter. Missouri Trust & Investment Co now owns 39,570 shares of the company’s stock valued at $1,534,000 after purchasing an additional 2,660 shares during the period. Janney Montgomery Scott LLC bought a new stake in Bath & Body Works in the 4th quarter valued at $372,000. Finally, Avior Wealth Management LLC grew its holdings in Bath & Body Works by 30.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,950 shares of the company’s stock valued at $76,000 after buying an additional 453 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Company Profile

(Get Free Report)

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.

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