Bath & Body Works (NYSE:BBWI) Receives Outperform Rating from Raymond James

Raymond James reissued their outperform rating on shares of Bath & Body Works (NYSE:BBWI) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $46.00 price target on the stock, up from their prior price target of $42.00.

A number of other analysts have also commented on the stock. Morgan Stanley reduced their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $42.00 to $48.00 in a research note on Friday, January 10th. TD Cowen upped their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $47.00 in a research note on Tuesday, February 18th. Finally, Barclays raised shares of Bath & Body Works from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $34.00 to $43.00 in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.44.

Bath & Body Works Trading Up 1.8 %

Shares of NYSE BBWI opened at $40.57 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 capitalization of $8.79 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.92 and a beta of 1.83. The firm has a 50-day moving average of $37.77 and a two-hundred day moving average of $34.02.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the company earned $0.48 EPS. Bath & Body Works’s revenue was up 3.1% on a year-over-year basis. As a group, research analysts predict that Bath & Body Works will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.20 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.97%. Bath & Body Works’s dividend payout ratio is currently 19.51%.

Hedge Funds Weigh In On Bath & Body Works

A number of hedge funds have recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC increased its holdings in Bath & Body Works by 4.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company’s stock worth $271,000 after buying an additional 324 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after buying an additional 329 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in 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 worth $54,000 after buying an additional 331 shares during the last quarter. UMB Bank n.a. increased its holdings in Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after buying an additional 335 shares during the last quarter. Finally, Northwest Bank & Trust Co grew its holdings in Bath & Body Works by 2.9% during the fourth quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company’s stock valued at $533,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.