Analysts Set Bath & Body Works, Inc. (NYSE:BBWI) Target Price at $43.00

Shares of Bath & Body Works, Inc. (NYSE:BBWI) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $43.00.

A number of equities research analysts have commented on the stock. UBS Group decreased their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Raymond James decreased their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. The Goldman Sachs Group dropped their target price on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a 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. dropped their price objective on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th.

Bath & Body Works Stock Up 6.2 %

NYSE BBWI opened at $28.91 on Tuesday. Bath & Body Works has a 52 week low of $26.20 and a 52 week high of $52.99. The company has a market capitalization of $6.45 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 0.86 and a beta of 1.77. The stock’s 50-day moving average price is $33.18 and its 200-day moving average price is $41.17.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Hedge Funds Weigh In On Bath & Body Works

Several institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in shares of Bath & Body Works during the 2nd quarter valued at about $2,855,000. Quarry LP increased its stake in Bath & Body Works by 320.7% during the second quarter. Quarry LP now owns 3,795 shares of the company’s stock worth $148,000 after acquiring an additional 2,893 shares during the last quarter. Creative Planning raised its position in Bath & Body Works by 8.1% during the second quarter. Creative Planning now owns 16,648 shares of the company’s stock valued at $650,000 after purchasing an additional 1,254 shares during the period. Scientech Research LLC bought a new stake in shares of Bath & Body Works in the 2nd quarter valued at approximately $1,520,000. Finally, Shellback Capital LP boosted its holdings in shares of Bath & Body Works by 242.9% in the 2nd quarter. Shellback Capital LP now owns 240,000 shares of the company’s stock worth $9,372,000 after purchasing an additional 170,000 shares during the period. Institutional investors 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.