TD Cowen Issues Positive Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its price target raised by TD Cowen from $40.00 to $42.00 in a research report sent to investors on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

BBWI has been the subject of several other reports. Robert W. Baird lowered their price objective on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Raymond James decreased their price target on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. The Goldman Sachs Group cut their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Barclays increased their target price on shares of Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Trading Up 1.9 %

Shares of BBWI stock opened at $35.90 on Tuesday. The firm has a fifty day simple moving average of $30.93 and a two-hundred day simple moving average of $35.65. Bath & Body Works has a 12 month low of $26.20 and a 12 month high of $52.99. The firm has a market capitalization of $7.87 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, equities analysts predict that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Institutional investors have recently added to or reduced their stakes in the business. First Community Trust NA purchased a new position in shares of Bath & Body Works in the second quarter worth about $30,000. True Wealth Design LLC boosted its holdings in Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after buying an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works during the 3rd quarter valued at $39,000. Finally, TD Private Client Wealth LLC lifted its position in shares of 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 worth $54,000 after acquiring an additional 331 shares in the last quarter. 95.14% of the stock is 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.