Wells Fargo & Company Forecasts Strong Price Appreciation for Bath & Body Works (NYSE:BBWI) Stock

Bath & Body Works (NYSE:BBWI) had its price target upped by Wells Fargo & Company from $32.00 to $38.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other analysts have also recently issued reports on the stock. Barclays raised their target price on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday. Bank of America dropped their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Telsey Advisory Group reiterated an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a research note on Monday. Robert W. Baird dropped their price objective on shares of 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. Finally, UBS Group dropped their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Stock Performance

NYSE BBWI opened at $35.23 on Tuesday. The firm has a 50-day moving average of $30.69 and a 200-day moving average of $35.74. The stock has a market cap 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 52-week low of $26.20 and a 52-week high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its 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. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. As a group, analysts predict that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is presently 19.37%.

Insider Activity at Bath & Body Works

In related news, CEO Gina Boswell purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the acquisition, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lone Pine Capital LLC grew its holdings in shares of Bath & Body Works by 15.8% during the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after purchasing an additional 1,547,399 shares during the last quarter. Anomaly Capital Management LP bought a new stake in Bath & Body Works during the 2nd quarter worth approximately $113,995,000. FMR LLC grew its holdings in Bath & Body Works by 17,496.5% during the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after acquiring an additional 2,501,828 shares during the last quarter. Sound Shore Management Inc. CT grew its holdings in Bath & Body Works by 10.0% during the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after acquiring an additional 189,889 shares during the last quarter. Finally, KBC Group NV grew its holdings in Bath & Body Works by 9,023.5% during the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after acquiring an additional 1,683,160 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

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.