Wells Fargo & Company Issues Pessimistic Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its price target decreased by Wells Fargo & Company from $35.00 to $32.00 in a research note released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities analysts have also recently commented on BBWI. Telsey Advisory Group reissued an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a research note on Thursday, September 26th. Barclays lowered their target price on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Piper Sandler lowered their target price on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. UBS Group lowered their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average price target of $42.44.

Bath & Body Works Stock Performance

Bath & Body Works stock opened at $30.00 on Wednesday. The firm’s 50-day moving average is $30.01 and its 200-day moving average is $36.93. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The company has a market cap of $6.57 billion, a P/E ratio of 7.26, a PEG ratio of 1.01 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last posted its quarterly 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. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. As a group, sell-side analysts predict that Bath & Body Works will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s dividend payout ratio is currently 19.37%.

Insider Buying and Selling

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 stock was acquired at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bath & Body Works

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBWI. First Community Trust NA bought a new position in Bath & Body Works during the second quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Bath & Body Works by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after buying an additional 900 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Bath & Body Works by 480.3% during the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after buying an additional 1,436 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Bath & Body Works by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock valued at $72,000 after purchasing an additional 730 shares in the last quarter. Finally, EntryPoint Capital LLC boosted 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. Institutional investors own 95.14% of the company’s stock.

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.