Bath & Body Works (NYSE:BBWI) Price Target Raised to $48.00

Bath & Body Works (NYSE:BBWI) had its target price increased by Wells Fargo & Company from $42.00 to $48.00 in a research note published on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts also recently weighed in on BBWI. Telsey Advisory Group reaffirmed an outperform rating and issued a $53.00 price objective on shares of Bath & Body Works in a report on Friday, April 5th. Evercore ISI upped their price objective on shares of Bath & Body Works from $30.00 to $45.00 and gave the stock an in-line rating in a report on Friday, March 1st. BMO Capital Markets upped their price objective on shares of Bath & Body Works from $48.00 to $50.00 and gave the stock an outperform rating in a report on Friday, March 1st. Piper Sandler upped their price objective on shares of Bath & Body Works from $44.00 to $45.00 and gave the stock a neutral rating in a report on Tuesday, April 9th. Finally, TD Cowen boosted their price target on shares of Bath & Body Works from $35.00 to $55.00 and gave the stock an outperform rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Bath & Body Works has an average rating of Hold and a consensus price target of $46.73.

Bath & Body Works Price Performance

Shares of BBWI opened at $46.03 on Wednesday. The business’s fifty day moving average price is $46.22 and its 200 day moving average price is $40.54. Bath & Body Works has a 12-month low of $27.30 and a 12-month high of $50.34. The stock has a market capitalization of $10.35 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.48 and a beta of 1.86.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.21. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a yield of 1.74%. Bath & Body Works’s payout ratio is presently 20.78%.

Insiders Place Their Bets

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total transaction of $209,493.65. Following the sale, the insider now owns 45,992 shares in the company, valued at approximately $2,248,548.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors and hedge funds have recently bought and sold shares of the business. Front Row Advisors LLC purchased a new position in Bath & Body Works during the 3rd quarter valued at about $25,000. Trust Co. of Vermont purchased a new position in Bath & Body Works during the 3rd quarter valued at about $27,000. Denali Advisors LLC purchased a new position in Bath & Body Works during the 4th quarter valued at about $27,000. GAMMA Investing LLC purchased a new position in Bath & Body Works during the 4th quarter valued at about $27,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Bath & Body Works during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.