UBS Group Cuts Bath & Body Works (NYSE:BBWI) Price Target to $38.00

Bath & Body Works (NYSE:BBWI) had its target price lowered by UBS Group from $52.00 to $38.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on the stock. Piper Sandler cut their price target on shares of Bath & Body Works from $47.00 to $39.00 and set a neutral rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an underweight rating to a neutral rating and lifted their price target for the stock from $40.00 to $53.00 in a research report on Friday, May 17th. Telsey Advisory Group reiterated an outperform rating and set a $53.00 price target on shares of Bath & Body Works in a research report on Wednesday, August 28th. Evercore ISI lowered their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an in-line rating for the company in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Bath & Body Works from $48.00 to $40.00 and set an equal weight rating on the stock in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Bath & Body Works presently has a consensus rating of Moderate Buy and a consensus price target of $42.50.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $30.76 on Thursday. Bath & Body Works has a fifty-two week low of $27.30 and a fifty-two week high of $52.99. The firm has a fifty day moving average price of $35.46 and a two-hundred day moving average price of $42.57. The company has a market cap of $6.87 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.04 and a beta of 1.85.

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

Bath & Body Works Announces Dividend

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

Hedge Funds Weigh In On Bath & Body Works

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Bath & Body Works during the fourth quarter worth $27,000. First Community Trust NA acquired a new position in Bath & Body Works during the second quarter worth $30,000. EverSource Wealth Advisors LLC increased its holdings in Bath & Body Works by 72.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after buying an additional 337 shares during the last quarter. EntryPoint Capital LLC increased its holdings in Bath & Body Works by 224.0% during the first quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock worth $74,000 after buying an additional 1,017 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Bath & Body Works by 17.1% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock worth $70,000 after buying an additional 235 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.