Bath & Body Works (NYSE:BBWI) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bath & Body Works (NYSE:BBWI) from a neutral rating to an overweight rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm currently has $47.00 target price on the stock, up from their prior target price of $41.00.

A number of other research firms have also issued reports on BBWI. Piper Sandler boosted their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Argus restated a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 target price on shares of Bath & Body Works in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company upgraded shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $42.00 to $48.00 in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and a consensus target price of $43.63.

Bath & Body Works Price Performance

NYSE BBWI opened at $40.33 on Tuesday. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The business’s 50-day simple moving average is $37.70 and its 200-day simple moving average is $33.81. The firm has a market capitalization of $8.73 billion, a P/E ratio of 9.84, a P/E/G ratio of 0.96 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last announced 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 for the quarter, compared to analyst estimates of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. On average, equities research analysts expect that Bath & Body Works will post 3.26 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, February 21st. Bath & Body Works’s dividend payout ratio is 19.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BBWI. Vanguard Group Inc. boosted its position in shares of Bath & Body Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock valued at $1,093,306,000 after acquiring an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Bath & Body Works by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company’s stock worth $396,815,000 after purchasing an additional 422,973 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Bath & Body Works by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock worth $329,317,000 after acquiring an additional 445,887 shares during the period. Alliancebernstein L.P. lifted its position in Bath & Body Works by 35.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock valued at $200,768,000 after buying an additional 1,360,264 shares during the period. Finally, Anomaly Capital Management LP boosted its stake in Bath & Body Works by 38.3% during the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock worth $188,456,000 after acquiring an additional 1,346,752 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.