Shares of Bath & Body Works, Inc. (NYSE:BBWI – Get Free Report) fell 3.3% on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $42.00 to $39.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bath & Body Works traded as low as $31.12 and last traded at $31.22. 340,015 shares were traded during trading, a decline of 89% from the average session volume of 3,071,252 shares. The stock had previously closed at $32.29.
A number of other equities research analysts have also weighed in on the company. UBS Group dropped their price target on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday. BMO Capital Markets upped their price target on shares of Bath & Body Works from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, June 5th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 price target on shares of Bath & Body Works in a report on Wednesday. Raymond James dropped their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Barclays reduced their target price on Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.
Institutional Investors Weigh In On Bath & Body Works
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Bath & Body Works during the fourth quarter worth $27,000. First Community Trust NA purchased a new stake in shares of Bath & Body Works during the 2nd quarter worth about $30,000. EverSource Wealth Advisors LLC grew its position in shares of Bath & Body Works by 72.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after acquiring an additional 337 shares during the period. EntryPoint Capital LLC increased its stake in shares of Bath & Body Works by 224.0% in the 1st quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Bath & Body Works by 17.1% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock worth $70,000 after purchasing an additional 235 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.
Bath & Body Works Trading Down 4.0 %
The company has a market cap of $6.92 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.16 and a beta of 1.85. The business has a fifty day moving average of $35.91 and a two-hundred day moving average of $42.77.
Bath & Body Works (NYSE:BBWI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, research analysts forecast that Bath & Body Works, Inc. will post 3.29 EPS for the current fiscal year.
Bath & Body Works Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.58%. The ex-dividend date is Friday, August 23rd. Bath & Body Works’s payout ratio is 20.62%.
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.
