Bath & Body Works (NYSE:BBWI) Raised to “Equal Weight” at Barclays

Barclays upgraded shares of Bath & Body Works (NYSE:BBWI) from an underweight rating to an equal weight rating in a research report sent to investors on Monday, Marketbeat reports. They currently have $43.00 price target on the stock, up from their previous price target of $34.00.

A number of other analysts have also commented on BBWI. Argus reaffirmed a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Bath & Body Works in a research note on Thursday, February 20th. Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $42.00 to $48.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler increased their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.44.

Bath & Body Works Stock Up 1.0 %

Shares of BBWI stock opened at $41.04 on Monday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.92 and a beta of 1.83. Bath & Body Works has a 12 month low of $26.20 and a 12 month high of $52.99. The stock has a 50-day moving average price of $37.82 and a 200 day moving average price of $34.07.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company earned $0.48 EPS. Bath & Body Works’s revenue was up 3.1% on a year-over-year basis. Sell-side analysts predict that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, February 21st. Bath & Body Works’s payout ratio is presently 19.51%.

Institutional Trading of Bath & Body Works

Several hedge funds and other institutional investors have recently modified their holdings of BBWI. Vanguard Group Inc. boosted its position in shares of Bath & Body Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock worth $1,093,306,000 after buying an additional 208,036 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Bath & Body Works by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company’s stock valued at $396,815,000 after acquiring an additional 422,973 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Bath & Body Works by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock worth $329,317,000 after acquiring an additional 445,887 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock worth $200,768,000 after acquiring an additional 1,360,264 shares in the last quarter. Finally, Anomaly Capital Management LP raised its holdings in shares of Bath & Body Works by 38.3% in the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock valued at $188,456,000 after purchasing an additional 1,346,752 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.