Bath & Body Works (NYSE:BBWI) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Bath & Body Works (NYSE:BBWI) from an equal weight rating to an overweight rating in a report released on Friday, MarketBeat.com reports. They currently have $48.00 price target on the stock, up from their prior price target of $42.00.

Other research analysts have also recently issued reports about the company. Piper Sandler boosted their target price on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a report on Monday, November 25th. TD Cowen lifted their target price on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.06.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $36.45 on Friday. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The firm has a market capitalization of $7.89 billion, a PE ratio of 8.89, a P/E/G ratio of 1.43 and a beta of 1.82. The business’s 50 day moving average price is $35.75 and its 200-day moving average price is $33.77.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, analysts expect that Bath & Body Works will post 3.26 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Institutional Investors Weigh In On Bath & Body Works

A number of hedge funds have recently added to or reduced their stakes in BBWI. True Wealth Design LLC grew its position in shares of Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after acquiring an additional 900 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bath & Body Works during the 3rd quarter worth approximately $39,000. TD Private Client Wealth LLC increased its position in shares of Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after purchasing an additional 331 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Bath & Body Works by 480.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,436 shares in 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.