BMO Capital Markets Reaffirms “Outperform” Rating for Bath & Body Works (NYSE:BBWI)

BMO Capital Markets reissued their outperform rating on shares of Bath & Body Works (NYSE:BBWI) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $50.00 price objective on the stock, down from their prior price objective of $52.00.

BBWI has been the topic of several other reports. Robert W. Baird dropped their target price on Bath & Body Works from $54.00 to $45.00 and set an outperform rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their target price on Bath & Body Works from $48.00 to $40.00 and set an equal weight rating on the stock in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on Bath & Body Works from $57.00 to $54.00 and set a buy rating on the stock in a research note on Monday, August 26th. Citigroup decreased their price target on Bath & Body Works from $48.00 to $35.00 and set a neutral rating for the company in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. decreased their price target on Bath & Body Works from $42.00 to $39.00 and set a neutral rating for the company in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $42.50.

Bath & Body Works Trading Down 0.8 %

BBWI stock opened at $30.76 on Thursday. Bath & Body Works has a 12-month low of $27.30 and a 12-month high of $52.99. The stock’s 50 day simple moving average is $35.46 and its 200 day simple moving average is $42.57. The firm has a market cap of $6.87 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.04 and a beta of 1.85.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts forecast that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be issued a $0.20 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.60%. Bath & Body Works’s dividend payout ratio (DPR) is 20.62%.

Institutional Trading of Bath & Body Works

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Bath & Body Works in the fourth quarter valued at $27,000. First Community Trust NA acquired a new stake in shares of Bath & Body Works in the second quarter valued at $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Bath & Body Works by 72.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after buying an additional 337 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Bath & Body Works by 17.1% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after buying an additional 235 shares during the period. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Bath & Body Works by 9,664.7% in the fourth quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock valued at $72,000 after buying an additional 1,643 shares during the period. Institutional investors and hedge funds 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.