Telsey Advisory Group Reaffirms Outperform Rating for Bath & Body Works (NYSE:BBWI)

Telsey Advisory Group reissued their outperform rating on shares of Bath & Body Works (NYSE:BBWI) in a research note published on Monday,Benzinga reports. The firm currently has a $42.00 price target on the stock.

BBWI has been the topic of several other reports. Citigroup lowered their target price on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. UBS Group lowered their price objective on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their target price 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. Evercore ISI dropped their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group decreased their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.44.

Bath & Body Works Stock Up 0.3 %

Bath & Body Works stock opened at $30.52 on Monday. 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 $6.69 billion, a P/E ratio of 7.39, a P/E/G ratio of 1.00 and a beta of 1.79. The business has a 50-day simple moving average of $30.41 and a two-hundred day simple moving average of $36.14.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Research analysts anticipate that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is 19.37%.

Insider Activity

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Community Trust NA bought a new stake in Bath & Body Works during the second quarter worth approximately $30,000. True Wealth Design LLC increased its position in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after buying an additional 331 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Bath & Body Works by 480.3% in the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after buying an additional 1,436 shares during the last quarter. 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.