Bath & Body Works (NYSE:BBWI - Free Report) had its target price raised by Robert W. Baird from $45.00 to $47.00 in a report issued on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.
BBWI has been the subject of a number of other reports. Cowen restated a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Telsey Advisory Group restated an "outperform" rating and set a $43.00 target price on shares of Bath & Body Works in a research report on Thursday, February 27th. TD Cowen increased their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $40.00 to $48.00 in a research note on Friday. Finally, Piper Sandler upped their price objective on Bath & Body Works from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.06.
Read Our Latest Report on Bath & Body Works
Bath & Body Works Price Performance
Bath & Body Works stock traded down $1.07 during midday trading on Friday, reaching $34.26. 5,722,999 shares of the company traded hands, compared to its average volume of 3,862,690. Bath & Body Works has a 12 month low of $26.20 and a 12 month high of $52.99. The business has a 50 day moving average of $37.63 and a two-hundred day moving average of $34.17. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 0.92 and a beta of 1.83.
Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.78 billion. As a group, equities analysts forecast that Bath & Body Works will post 3.3 EPS for the current year.
Bath & Body Works announced that its board has initiated a stock repurchase plan on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.
Bath & Body Works Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.34%. Bath & Body Works's payout ratio is 21.98%.
Hedge Funds Weigh In On Bath & Body Works
A number of hedge funds and other institutional investors have recently modified their holdings of BBWI. Shufro Rose & Co. LLC bought a new stake in Bath & Body Works in the 4th quarter valued at $343,000. American Trust bought a new stake in shares of Bath & Body Works in the fourth quarter worth about $205,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Bath & Body Works in the fourth quarter worth about $2,920,000. Alpine Global Management LLC purchased a new stake in shares of Bath & Body Works in the fourth quarter worth about $576,000. Finally, Northwest Bank & Trust Co boosted its stake in Bath & Body Works by 2.9% during the fourth quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company's stock valued at $533,000 after buying an additional 419 shares during the last quarter. Institutional investors own 95.14% of the company's stock.
Bath & Body Works Company Profile
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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.
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