Wells Fargo & Company Issues Positive Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its price objective increased by Wells Fargo & Company from $32.00 to $38.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the company. Raymond James lowered their price objective on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lowered their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a report on Monday, August 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $50.00 target price (down previously from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. Piper Sandler increased their target price on shares of Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research note on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Trading Up 1.9 %

Shares of BBWI opened at $35.90 on Tuesday. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99. The firm has a market capitalization of $7.87 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.14 and a beta of 1.79. The firm has a 50-day moving average price of $30.93 and a 200 day moving average price of $35.65.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Equities research analysts predict that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business 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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s payout ratio is currently 19.51%.

Insider Buying and Selling

In related news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This represents a 2.53 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Bath & Body Works

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

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.