Bath & Body Works (NYSE:BBWI) Given New $45.00 Price Target at Bank of America

Bath & Body Works (NYSE:BBWI) had its target price decreased by Bank of America from $54.00 to $45.00 in a research note issued to investors on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bath & Body Works from $57.00 to $54.00 and set a buy rating for the company in a report on Monday, August 26th. Barclays reduced their price target on shares of Bath & Body Works from $45.00 to $32.00 and set an equal weight rating for the company in a report on Wednesday, August 7th. Citigroup reduced their price target on shares of Bath & Body Works from $48.00 to $35.00 and set a neutral rating for the company in a report on Tuesday, August 20th. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an underweight rating to a neutral rating and boosted their price target for the company from $40.00 to $53.00 in a report on Friday, May 17th. Finally, Telsey Advisory Group restated an outperform rating and issued a $53.00 price target on shares of Bath & Body Works in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Bath & Body Works presently has an average rating of Moderate Buy and an average price target of $42.50.

Bath & Body Works Trading Down 0.8 %

Bath & Body Works stock opened at $30.76 on Thursday. The firm has a 50-day moving average price of $35.46 and a 200-day moving average price of $42.58. The firm has a market capitalization of $6.87 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.16 and a beta of 1.85. Bath & Body Works has a 12-month low of $27.30 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts predict that Bath & Body Works will post 3.29 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, August 23rd. Bath & Body Works’s payout ratio is currently 20.62%.

Institutional Trading of Bath & Body Works

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in Bath & Body Works during the 4th quarter worth approximately $27,000. First Community Trust NA purchased a new stake in Bath & Body Works during the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC grew its position in Bath & Body Works by 72.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after purchasing an additional 337 shares during the last quarter. Federated Hermes Inc. grew its position in Bath & Body Works by 17.1% during the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock worth $70,000 after purchasing an additional 235 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its position in Bath & Body Works by 9,664.7% during the 4th quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock worth $72,000 after purchasing an additional 1,643 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.