Bath & Body Works (NYSE:BBWI) Earns Outperform Rating from Raymond James

Raymond James reiterated their outperform rating on shares of Bath & Body Works (NYSE:BBWI) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $46.00 price target on the stock, up from their prior price target of $42.00.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. raised Bath & Body Works from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $47.00 in a research report on Tuesday, February 18th. Argus reaffirmed a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Morgan Stanley cut their price objective on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Finally, Barclays raised Bath & Body Works from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $43.00 in a report on Monday. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.44.

Bath & Body Works Price Performance

Shares of BBWI stock opened at $40.57 on Tuesday. The stock has a market cap of $8.79 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 0.92 and a beta of 1.83. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99. The stock has a fifty day moving average price of $37.77 and a 200 day moving average price of $34.02.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Bath & Body Works’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. Equities research analysts anticipate that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.97%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Institutional Trading of Bath & Body Works

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. D1 Capital Partners L.P. acquired a new stake in Bath & Body Works in the fourth quarter worth about $109,797,000. FMR LLC increased its position in Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after purchasing an additional 2,501,828 shares during the period. Norges Bank acquired a new stake in Bath & Body Works in the fourth quarter worth about $73,572,000. Arrowstreet Capital Limited Partnership increased its position in Bath & Body Works by 79.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company’s stock worth $150,507,000 after purchasing an additional 1,715,096 shares during the period. Finally, KBC Group NV increased its position in Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after purchasing an additional 1,683,160 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Company Profile

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.