Piper Sandler Issues Positive Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its target price raised by Piper Sandler from $36.00 to $39.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the company. Barclays raised their price objective on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research note on Monday, November 25th. Wells Fargo & Company increased their price objective on shares of Bath & Body Works from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. boosted their target price on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley reduced their price target on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. One equities 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 stock. Based on data from MarketBeat.com, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average price target of $42.69.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $36.94 on Monday. The firm has a 50-day moving average of $35.43 and a 200-day moving average of $33.78. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99. The stock has a market cap of $8.00 billion, a PE ratio of 9.01, a PEG ratio of 1.43 and a beta of 1.82.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts predict that Bath & Body Works will post 3.26 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.20 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.17%. Bath & Body Works’s payout ratio is presently 19.51%.

Institutional Trading of Bath & Body Works

Hedge funds have recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Bath & Body Works by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after acquiring an additional 900 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Bath & Body Works during the third quarter valued at $39,000. TD Private Client Wealth LLC lifted its holdings in shares of Bath & Body Works by 24.2% during the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after purchasing an additional 331 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Bath & Body Works by 480.3% in the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,436 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

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.