Bath & Body Works (NYSE:BBWI) Given New $42.00 Price Target at TD Cowen

Bath & Body Works (NYSE:BBWI) had its price objective lifted by TD Cowen from $40.00 to $42.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

BBWI has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird cut their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Morgan Stanley lowered their price target on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. Raymond James cut their price objective on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Trading Down 1.5 %

NYSE BBWI opened at $35.23 on Tuesday. The company has a market capitalization of $7.72 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.98 and a beta of 1.79. The business’s 50-day moving average price is $30.69 and its 200 day moving average price is $35.74. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99.

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

Bath & Body Works Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.27%. Bath & Body Works’s dividend payout ratio is currently 19.37%.

Insider Activity

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of Bath & Body Works stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds and other institutional investors have recently bought and sold shares of BBWI. California State Teachers Retirement System grew its position in shares of Bath & Body Works by 1.4% during the first quarter. California State Teachers Retirement System now owns 345,749 shares of the company’s stock worth $17,294,000 after buying an additional 4,695 shares in the last quarter. Tidal Investments LLC boosted its stake in Bath & Body Works by 223.9% during the 1st quarter. Tidal Investments LLC now owns 19,398 shares of the company’s stock valued at $970,000 after acquiring an additional 13,410 shares during the last quarter. Atria Investments Inc acquired a new position in Bath & Body Works during the 1st quarter worth $1,058,000. Northwest Bank & Trust Co grew its holdings in Bath & Body Works by 2.5% during the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after acquiring an additional 315 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Bath & Body Works by 1.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after purchasing an additional 322 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.