Posted by admin on Jul 13th, 2022
Raymond James started coverage on shares of Bath & Body Works (NYSE:BBWI – Get Rating) in a research note released on Tuesday morning, The Fly reports. The brokerage issued a strong-buy rating on the stock.
BBWI has been the topic of several other research reports. Wells Fargo & Company lowered their price target on shares of Bath & Body Works from $70.00 to $55.00 and set an overweight rating on the stock in a report on Thursday, July 7th. B. Riley reduced their target price on shares of Bath & Body Works from $76.00 to $67.00 and set a buy rating on the stock in a research note on Friday, May 20th. Barclays reduced their target price on shares of Bath & Body Works from $53.00 to $40.00 and set an equal weight rating on the stock in a research note on Friday, May 20th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bath & Body Works from $78.00 to $61.00 in a research note on Thursday, May 19th. Finally, BMO Capital Markets reduced their target price on shares of Bath & Body Works from $83.00 to $65.00 in a research note on Thursday, May 19th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bath & Body Works presently has an average rating of Moderate Buy and a consensus price target of $63.45.
Shares of Bath & Body Works stock opened at $26.85 on Tuesday. The firm has a market capitalization of $6.14 billion, a PE ratio of 5.85, a price-to-earnings-growth ratio of 1.84 and a beta of 1.72. The company’s fifty day moving average price is $37.18 and its two-hundred day moving average price is $48.19. Bath & Body Works has a 52-week low of $25.75 and a 52-week high of $82.00.
Bath & Body Works (NYSE:BBWI – Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. Bath & Body Works had a net margin of 15.41% and a negative return on equity of 69.03%. As a group, sell-side analysts forecast that Bath & Body Works will post 3.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.98%. Bath & Body Works’s payout ratio is presently 17.43%.
In other Bath & Body Works news, CFO Wendy C. Arlin sold 6,000 shares of the company’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $55.00, for a total transaction of $330,000.00. Following the transaction, the chief financial officer now directly owns 98,888 shares in the company, valued at approximately $5,438,840. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas E. Mazurek sold 16,338 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $42.25, for a total transaction of $690,280.50. Following the transaction, the insider now owns 11,225 shares in the company, valued at $474,256.25. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steadfast Capital Management LP lifted its holdings in Bath & Body Works by 7,923.4% during the 1st quarter. Steadfast Capital Management LP now owns 6,760,507 shares of the company’s stock valued at $323,152,000 after purchasing an additional 6,676,247 shares during the last quarter. Norges Bank bought a new position in Bath & Body Works in the fourth quarter valued at about $174,496,000. LTS One Management LP bought a new position in Bath & Body Works in the fourth quarter valued at about $123,877,000. Renaissance Technologies LLC acquired a new stake in shares of Bath & Body Works during the first quarter valued at about $84,383,000. Finally, Bank of America Corp DE boosted its stake in shares of Bath & Body Works by 238.2% during the first quarter. Bank of America Corp DE now owns 1,666,150 shares of the company’s stock valued at $79,641,000 after purchasing an additional 1,173,487 shares in the last quarter. 97.11% of the stock is owned by institutional investors.
Bath & Body Works Company Profile (Get Rating)
Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.
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