Bath & Body Works, Inc. (NYSE:BBWI – Get Free Report) shares gapped down before the market opened on Wednesday after Wells Fargo & Company lowered their price target on the stock from $48.00 to $40.00. The stock had previously closed at $37.03, but opened at $35.65. Wells Fargo & Company currently has an equal weight rating on the stock. Bath & Body Works shares last traded at $35.28, with a volume of 420,064 shares changing hands.
Several other research firms have also recently issued reports on BBWI. Piper Sandler dropped their target price on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft boosted their target price on Bath & Body Works from $53.00 to $57.00 in a research report on Monday, June 3rd. Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 target price on shares of Bath & Body Works in a research report on Tuesday, June 4th. BMO Capital Markets upped their price target on Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. upgraded Bath & Body Works from an “underweight” rating to a “neutral” rating and increased their target price for the company from $40.00 to $53.00 in a report on Friday, May 17th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.60.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Denali Advisors LLC purchased a new position in Bath & Body Works in the fourth quarter valued at about $27,000. GAMMA Investing LLC acquired a new position in Bath & Body Works in the fourth quarter worth about $27,000. First Community Trust NA acquired a new position in Bath & Body Works in the second quarter worth about $30,000. EverSource Wealth Advisors LLC grew its stake in Bath & Body Works by 72.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after purchasing an additional 337 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Bath & Body Works in the fourth quarter worth about $35,000. 95.14% of the stock is owned by hedge funds and other institutional investors.
Bath & Body Works Stock Down 7.3 %
The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 1.24 and a beta of 1.85. The stock has a 50 day moving average of $42.72 and a 200 day moving average of $44.46.
Bath & Body Works (NYSE:BBWI – Get Free Report) last issued its earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company posted $0.33 earnings per share. Bath & Body Works’s revenue was down .9% on a year-over-year basis. Analysts predict that Bath & Body Works, Inc. will post 3.29 earnings per share for the current year.
Bath & Body Works Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.33%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.
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.