Bath & Body Works (NYSE:BBWI) Price Target Raised to $42.00 at TD Cowen

Bath & Body Works (NYSE:BBWI) had its price target lifted by TD Cowen from $40.00 to $42.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Bath & Body Works from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Piper Sandler lifted their price objective on shares of Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday. BMO Capital Markets restated an “outperform” rating and issued a $50.00 target price (down previously from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Citigroup decreased their target price on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, Raymond James dropped their price target on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Stock Up 1.1 %

Shares of NYSE BBWI opened at $36.29 on Tuesday. The stock’s fifty day simple moving average is $31.05 and its 200 day simple moving average is $35.65. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.35 and a beta of 1.79. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly 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. The firm had revenue of $1.53 billion for 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, analysts anticipate that Bath & Body Works will post 3.24 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.20%. 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 Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were acquired at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the acquisition, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Bath & Body Works by 1.4% in the first quarter. California State Teachers Retirement System now owns 345,749 shares of the company’s stock worth $17,294,000 after buying an additional 4,695 shares during the last quarter. Tidal Investments LLC increased its holdings 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 valued at $970,000 after acquiring an additional 13,410 shares during the last quarter. Atria Investments Inc bought a new position in shares of Bath & Body Works in the 1st quarter valued at approximately $1,058,000. Northwest Bank & Trust Co lifted its holdings in Bath & Body Works by 2.5% in the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after purchasing an additional 315 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Bath & Body Works by 1.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after purchasing an additional 322 shares during the period. 95.14% of the stock is currently owned by institutional investors.

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.