Bath & Body Works (NYSE:BBWI) Price Target Raised to $34.00

Bath & Body Works (NYSE:BBWI) had its price objective lifted by Barclays from $28.00 to $34.00 in a report released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also weighed in on the company. Citigroup dropped their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Raymond James dropped their target price on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Telsey Advisory Group reissued an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research report on Monday. UBS Group dropped their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group lowered their target price on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Bath & Body Works Trading Up 1.9 %

Shares of BBWI opened at $35.90 on Tuesday. 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 price is $30.93 and its 200-day moving average price is $35.65. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.14 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data 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. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, research analysts forecast that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s dividend payout ratio is currently 19.51%.

Insider Activity

In related news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction 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 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bath & Body Works

A number of institutional investors and hedge funds have recently modified their holdings of BBWI. CWM LLC increased its position in Bath & Body Works by 6.6% during the second quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after acquiring an additional 314 shares during the last quarter. Northwest Bank & Trust Co lifted its stake in shares of Bath & Body Works by 2.5% in the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after purchasing an additional 315 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Bath & Body Works by 1.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after buying an additional 322 shares during the last quarter. TD Private Client Wealth LLC grew its position in Bath & Body Works by 24.2% during the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after buying an additional 331 shares during the period. Finally, Citizens & Northern Corp increased its holdings in Bath & Body Works by 1.7% during the second quarter. Citizens & Northern Corp now owns 29,465 shares of the company’s stock valued at $1,151,000 after buying an additional 487 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.