Bath & Body Works (NYSE:BBWI) Price Target Cut to $40.00 by Analysts at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price target decreased by Wells Fargo & Company from $48.00 to $40.00 in a research report released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms also recently commented on BBWI. Piper Sandler cut their target price on Bath & Body Works from $47.00 to $39.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bath & Body Works from $53.00 to $57.00 in a report on Monday, June 3rd. BMO Capital Markets lifted their price target on shares of Bath & Body Works from $50.00 to $55.00 and gave the company an outperform rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. raised shares of Bath & Body Works from an underweight rating to a neutral rating and upped their price objective for the stock from $40.00 to $53.00 in a research note on Friday, May 17th. Finally, Telsey Advisory Group reissued an outperform rating and issued a $53.00 target price on shares of Bath & Body Works in a report on Tuesday, June 4th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $47.60.

Bath & Body Works Trading Up 3.1 %

Shares of NYSE BBWI opened at $34.17 on Wednesday. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 1.09 and a beta of 1.85. Bath & Body Works has a one year low of $27.30 and a one year high of $52.99. The business has a fifty day simple moving average of $42.08 and a 200 day simple moving average of $44.30.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Tuesday, June 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. On average, research analysts anticipate that Bath & Body Works will post 3.29 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.34%. Bath & Body Works’s payout ratio is currently 20.62%.

Institutional Trading of Bath & Body Works

A number of hedge funds have recently modified their holdings of BBWI. Wellington Management Group LLP raised its holdings in Bath & Body Works by 22.0% in the third quarter. Wellington Management Group LLP now owns 114,601 shares of the company’s stock worth $3,874,000 after purchasing an additional 20,703 shares during the period. SG Americas Securities LLC raised its stake in Bath & Body Works by 18.0% during the 4th quarter. SG Americas Securities LLC now owns 17,860 shares of the company’s stock worth $771,000 after buying an additional 2,724 shares during the period. Douglas Lane & Associates LLC bought a new position in Bath & Body Works during the fourth quarter worth about $211,000. Assenagon Asset Management S.A. grew its stake in Bath & Body Works by 5,449.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 395,942 shares of the company’s stock valued at $17,089,000 after acquiring an additional 388,807 shares during the period. Finally, Everett Harris & Co. CA increased its holdings in shares of Bath & Body Works by 16.3% in the fourth quarter. Everett Harris & Co. CA now owns 46,467 shares of the company’s stock worth $2,006,000 after acquiring an additional 6,521 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.