Bath & Body Works (NYSE:BBWI) Price Target Raised to $35.00 at Barclays

Bath & Body Works (NYSE:BBWI) had its target price boosted by Barclays from $31.00 to $35.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

BBWI has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on Bath & Body Works from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler set a $39.00 target price on Bath & Body Works and gave the company an “overweight” rating in a research note on Thursday, May 15th. The Goldman Sachs Group decreased their target price on Bath & Body Works from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Citigroup decreased their target price on Bath & Body Works from $48.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Cowen reissued a “buy” rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average target price of $42.56.

Bath & Body Works Stock Down 0.4%

BBWI stock opened at $33.43 on Tuesday. The business’s 50-day moving average price is $30.16 and its 200-day moving average price is $34.03. The stock has a market cap of $7.12 billion, a P/E ratio of 8.15, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works has a twelve month low of $24.96 and a twelve month high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. On average, equities research analysts expect that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Friday, June 6th. Bath & Body Works’s payout ratio is 21.98%.

Bath & Body Works declared that its Board of Directors has approved a share buyback program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Bath & Body Works

A number of institutional investors and hedge funds have recently modified their holdings of BBWI. Victory Capital Management Inc. boosted its holdings in shares of Bath & Body Works by 14,732.0% in the 1st quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company’s stock worth $206,119,000 after purchasing an additional 6,752,274 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Bath & Body Works by 267.8% in the 1st quarter. AQR Capital Management LLC now owns 3,993,173 shares of the company’s stock worth $121,073,000 after purchasing an additional 2,907,506 shares during the period. D1 Capital Partners L.P. purchased a new position in shares of Bath & Body Works in the 4th quarter worth approximately $109,797,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Bath & Body Works by 115.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,680,104 shares of the company’s stock worth $111,581,000 after purchasing an additional 1,973,679 shares during the period. Finally, Norges Bank purchased a new position in shares of Bath & Body Works in the 4th quarter worth approximately $73,572,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Company Profile

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.