Piper Sandler Issues Positive Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its price objective lifted by Piper Sandler from $35.00 to $36.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. cut their target price on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. UBS Group reduced their price objective on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Wells Fargo & Company reduced their price target on shares of Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $50.00 price objective (down from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.88.

Bath & Body Works Stock Up 1.1 %

Shares of BBWI opened at $36.29 on Tuesday. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $31.05 and a 200 day moving average price of $35.65.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, equities analysts anticipate that Bath & Body Works will post 3.24 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid 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 dividend yield of 2.20%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Insider Activity at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was purchased 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 owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 2.53 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Anthracite Investment Company Inc. acquired a new stake in Bath & Body Works during the 3rd quarter valued at $2,921,000. Principal Financial Group Inc. lifted its position in shares of Bath & Body Works by 328.7% in the third quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after acquiring an additional 820,379 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Bath & Body Works by 18.1% during the third quarter. New York State Teachers Retirement System now owns 266,235 shares of the company’s stock valued at $8,498,000 after acquiring an additional 40,793 shares during the last quarter. Forest Avenue Capital Management LP increased its position in Bath & Body Works by 19.1% during the 3rd quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company’s stock worth $46,851,000 after purchasing an additional 235,173 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Bath & Body Works by 404.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company’s stock valued at $4,295,000 after purchasing an additional 107,868 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other 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.