Bath & Body Works (NYSE:BBWI) Price Target Lowered to $48.00 at Morgan Stanley

Bath & Body Works (NYSE:BBWI) had its target price reduced by Morgan Stanley from $51.00 to $48.00 in a report released on Thursday morning. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on BBWI. The Goldman Sachs Group decreased their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Robert W. Baird lowered their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft decreased 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 report on Monday, August 26th. Barclays cut shares of Bath & Body Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $31.00 to $28.00 in a research report on Friday, November 8th. Finally, Bank of America lowered their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.25.

Bath & Body Works Trading Up 0.2 %

NYSE BBWI traded up $0.06 on Thursday, hitting $30.81. 4,230,423 shares of the company were exchanged, compared to its average volume of 3,838,460. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The firm has a 50 day moving average of $30.48 and a two-hundred day moving average of $36.10. The company has a market cap of $6.75 billion, a P/E ratio of 7.45, a P/E/G ratio of 0.97 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. Research analysts anticipate that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.60%. Bath & Body Works’s dividend payout ratio is currently 19.37%.

Insiders Place Their Bets

In other news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Bath & Body Works

Several hedge funds and other institutional investors have recently bought and sold shares of BBWI. First Community Trust NA acquired a new stake in shares of Bath & Body Works during the 2nd quarter worth $30,000. True Wealth Design LLC grew its stake in Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after buying an additional 900 shares during the period. TD Private Client Wealth LLC raised its position in shares of Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after buying an additional 331 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Bath & Body Works by 480.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after acquiring an additional 1,436 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.