Bath & Body Works, Inc. (NYSE:BBWI) Receives $45.06 Average Price Target from Brokerages

Bath & Body Works, Inc. (NYSE:BBWI) has earned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $45.06.

BBWI has been the subject of several analyst reports. Argus restated a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Raymond James restated an “outperform” rating and set a $46.00 price target (up from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Citigroup upgraded Bath & Body Works from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $48.00 in a research report on Friday, February 28th. Telsey Advisory Group restated an “outperform” rating and issued a $43.00 target price on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Piper Sandler upped their price target on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, January 6th.

Institutional Trading of Bath & Body Works

A number of hedge funds have recently modified their holdings of the business. Fifth Third Wealth Advisors LLC lifted its position in Bath & Body Works by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company’s stock valued at $271,000 after acquiring an additional 324 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after purchasing an additional 329 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Bath & Body Works by 24.2% during the third 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. UMB Bank n.a. boosted its position in shares of Bath & Body Works by 58.8% in the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after purchasing an additional 335 shares in the last quarter. Finally, Northwest Bank & Trust Co grew its stake in shares of Bath & Body Works by 2.9% in the 4th quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company’s stock worth $533,000 after buying an additional 419 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

NYSE:BBWI opened at $27.11 on Friday. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 6.61, a PEG ratio of 0.92 and a beta of 1.89. The business has a 50 day moving average of $34.45 and a 200 day moving average of $34.10. Bath & Body Works has a 1-year low of $25.41 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. As a group, sell-side analysts anticipate that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.95%. Bath & Body Works’s payout ratio is 21.98%.

Bath & Body Works declared that its board has initiated a share repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

About Bath & Body Works

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.