Morgan Stanley Has Lowered Expectations for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its price objective trimmed by Morgan Stanley from $51.00 to $48.00 in a research report released on Thursday. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” 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 cut their target price for the stock from $31.00 to $28.00 in a report on Friday, November 8th. Bank of America reduced their price target on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Raymond James lowered their price objective on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Evercore ISI reduced their target price on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average target price of $42.25.

Bath & Body Works Trading Up 0.2 %

Bath & Body Works stock traded up $0.06 during midday trading on Thursday, reaching $30.81. The company’s stock had a trading volume of 4,230,423 shares, compared to its average volume of 3,838,460. The stock has a market cap of $6.75 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 0.97 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. The business has a 50-day moving average price of $30.48 and a 200-day moving average price of $36.10.

Bath & Body Works (NYSE:BBWI) last posted 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 net margin of 12.69% and a negative return on equity of 41.94%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, research analysts predict that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s dividend payout ratio is presently 19.37%.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the acquisition, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BBWI. Bard Financial Services Inc. bought a new position in Bath & Body Works during the 3rd quarter valued at $412,000. TD Private Client Wealth LLC raised its holdings in shares of Bath & Body Works by 24.2% in 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. Nomura Asset Management Co. Ltd. lifted its position in shares of Bath & Body Works by 30.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 137,610 shares of the company’s stock valued at $4,393,000 after purchasing an additional 32,233 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in Bath & Body Works by 1,078.2% during the third quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company’s stock worth $1,575,000 after purchasing an additional 45,144 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Bath & Body Works in the 3rd quarter worth about $8,129,000. Institutional investors and hedge funds 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.