JPMorgan Chase & Co. Boosts Bath & Body Works (NYSE:BBWI) Price Target to $39.00

Bath & Body Works (NYSE:BBWI) had its target price hoisted by JPMorgan Chase & Co. from $35.00 to $39.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

BBWI has been the topic of several other reports. Morgan Stanley cut their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Barclays increased their price target on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday. Robert W. Baird dropped their price objective 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. Wells Fargo & Company cut their target price on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Bath & Body Works Stock Up 1.9 %

BBWI stock opened at $35.90 on Tuesday. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99. The company has a market cap of $7.87 billion, a P/E ratio of 8.76, a PEG ratio of 1.14 and a beta of 1.79. The business has a fifty day moving average of $30.93 and a 200-day moving average of $35.65.

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. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s payout ratio is presently 19.51%.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Several institutional investors have recently bought and sold shares of BBWI. First Community Trust NA acquired a new stake in shares of Bath & Body Works in the second quarter valued at approximately $30,000. True Wealth Design LLC grew its position in Bath & Body Works by 5,270.0% in the third 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after buying an additional 900 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works during the 3rd quarter worth about $39,000. Finally, TD Private Client Wealth LLC lifted its position in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after buying an additional 331 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

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.