JPMorgan Chase & Co. Cuts Bath & Body Works (NYSE:BBWI) Price Target to $41.00

Bath & Body Works (NYSE:BBWI - Get Free Report) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $47.00 to $41.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 44.24% from the company's previous close.

Several other equities research analysts have also recently commented on the stock. Robert W. Baird raised their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Piper Sandler upgraded Bath & Body Works from a "neutral" rating to an "overweight" rating and cut their price target for the company from $38.00 to $35.00 in a research note on Wednesday, April 9th. Citigroup decreased their target price on shares of 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. Argus reissued a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Finally, Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $42.00 to $48.00 in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Bath & Body Works currently has an average rating of "Moderate Buy" and an average target price of $43.13.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock traded up $0.92 during trading hours on Monday, reaching $28.42. The company had a trading volume of 4,852,461 shares, compared to its average volume of 4,735,779. The business has a fifty day simple moving average of $32.15 and a 200 day simple moving average of $33.84. The firm has a market cap of $6.09 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. Bath & Body Works has a one year low of $24.96 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.78 billion. On average, research analysts forecast that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has initiated a stock repurchase plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of Bath & Body Works

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Bath & Body Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock worth $1,093,306,000 after acquiring an additional 208,036 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Bath & Body Works by 4.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company's stock worth $396,815,000 after purchasing an additional 422,973 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Bath & Body Works by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company's stock worth $329,317,000 after purchasing an additional 445,887 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock valued at $200,768,000 after purchasing an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP boosted its position in shares of Bath & Body Works by 38.3% in the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock worth $188,456,000 after purchasing an additional 1,346,752 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.