Bath & Body Works (NYSE:BBWI) Given New $38.00 Price Target at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price objective raised by Wells Fargo & Company from $32.00 to $38.00 in a research note released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also recently weighed in on BBWI. Barclays lifted their price target on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday. The Goldman Sachs Group cut their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Bank of America reduced their price target on 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. BMO Capital Markets reissued an “outperform” rating and set a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $36.29 on Tuesday. The firm has a market capitalization of $7.86 billion, a PE ratio of 8.84, a P/E/G ratio of 1.35 and a beta of 1.79. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The business’s fifty day moving average price is $31.05 and its two-hundred day moving average price is $35.65.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Equities research analysts expect that Bath & Body Works will post 3.24 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is 19.51%.

Insiders Place Their Bets

In related news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were purchased at an average cost 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 approximately $7,202,134.68. This trade represents a 2.53 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Institutional investors have recently modified their holdings of the stock. First Community Trust NA bought a new position in Bath & Body Works during the second quarter valued at approximately $30,000. True Wealth Design LLC increased its stake in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after purchasing an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bath & Body Works in the 3rd quarter valued at $39,000. Finally, TD Private Client Wealth LLC boosted its holdings in Bath & Body Works by 24.2% in 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 in 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 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.