JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Bath & Body Works (NYSE:BBWI) Stock

Bath & Body Works (NYSE:BBWI) had its target price boosted by JPMorgan Chase & Co. from $35.00 to $39.00 in a research note issued to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on BBWI. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Citigroup dropped their price objective on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Morgan Stanley decreased their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research report on Monday. Finally, Piper Sandler increased their price objective on Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Price Performance

NYSE BBWI opened at $35.23 on Tuesday. The company has a fifty day moving average of $30.69 and a two-hundred day moving average of $35.74. The company has a market capitalization of $7.72 billion, a PE ratio of 8.53, a P/E/G ratio of 0.98 and a beta of 1.79. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, research analysts expect that Bath & Body Works will post 3.18 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.20 dividend. 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 dividend payout ratio is presently 19.37%.

Insiders Place Their Bets

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of Bath & Body Works stock in a transaction on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in Bath & Body Works during the third quarter worth $39,000. Bard Financial Services Inc. purchased a new stake in Bath & Body Works during the 3rd quarter worth about $412,000. TD Private Client Wealth LLC raised its stake in 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 purchasing an additional 331 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Bath & Body Works by 30.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 137,610 shares of the company’s stock valued at $4,393,000 after purchasing an additional 32,233 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in shares of Bath & Body Works by 1,078.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company’s stock worth $1,575,000 after purchasing an additional 45,144 shares during the last quarter. 95.14% of the stock is currently 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.