Bath & Body Works’ (BBWI) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Bath & Body Works (NYSE:BBWI) in a research report report published on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $42.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on BBWI. UBS Group decreased their price target on shares of Bath & Body Works from $52.00 to $38.00 and set a neutral rating for the company in a report on Thursday, August 29th. BMO Capital Markets reaffirmed 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. Piper Sandler cut their price target on Bath & Body Works from $47.00 to $39.00 and set a neutral rating for the company in a report on Thursday, July 11th. Bank of America lowered their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a buy rating on the stock in a research note on Thursday, August 29th. Finally, Morgan Stanley cut their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an overweight rating for the company in a research note on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $42.35.

Bath & Body Works Stock Performance

BBWI opened at $32.39 on Thursday. The stock has a 50-day moving average of $31.85 and a 200-day moving average of $40.27. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99. The company has a market cap of $7.10 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, research analysts predict that Bath & Body Works will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.47%. Bath & Body Works’s payout ratio is 20.62%.

Institutional Investors Weigh In On Bath & Body Works

Hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc increased its holdings in shares of Bath & Body Works by 3.7% during the fourth quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock valued at $42,136,000 after acquiring an additional 35,261 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Bath & Body Works by 28.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after purchasing an additional 56,764 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Bath & Body Works by 46.9% during the 1st quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock valued at $6,572,000 after purchasing an additional 41,995 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after buying an additional 1,102,124 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Bath & Body Works by 968.1% in the first quarter. SG Americas Securities LLC now owns 190,758 shares of the company’s stock valued at $9,542,000 after buying an additional 172,898 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.