Bath & Body Works (NYSE:BBWI) Price Target Raised to $36.00 at Piper Sandler

Bath & Body Works (NYSE:BBWI) had its price target boosted by Piper Sandler from $35.00 to $36.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on BBWI. Telsey Advisory Group reiterated an “outperform” rating and set a $42.00 price objective on shares of Bath & Body Works in a report on Monday. JPMorgan Chase & Co. cut their price target 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. Barclays downgraded Bath & Body Works from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $31.00 to $28.00 in a research note on Friday, November 8th. Morgan Stanley dropped their target price on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Finally, Robert W. Baird decreased their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Bath & Body Works Stock Performance

BBWI stock opened at $35.90 on Tuesday. The stock’s 50 day simple moving average is $30.93 and its 200 day simple moving average is $35.65. The company has a market cap of $7.87 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company 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 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued 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 yield of 2.23%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Insiders Place Their Bets

In other news, CEO Gina Boswell bought 6,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were purchased at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 2.53 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Several large investors have recently added to or reduced their stakes in BBWI. First Community Trust NA bought a new stake in Bath & Body Works during the 2nd quarter valued at $30,000. True Wealth Design LLC raised its stake in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Bath & Body Works during the 3rd quarter worth about $39,000. Finally, TD Private Client Wealth LLC boosted its stake in 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 worth $54,000 after purchasing an additional 331 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.