Piper Sandler Raises Bath & Body Works (NYSE:BBWI) Price Target to $36.00

Bath & Body Works (NYSE:BBWI - Free Report) had its price objective lifted by Piper Sandler from $35.00 to $36.00 in a report published on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

BBWI has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reduced their target price on Bath & Body Works from $57.00 to $54.00 and set a "buy" rating for the company in a report on Monday, August 26th. Raymond James dropped their target price on Bath & Body Works from $51.00 to $42.00 and set an "outperform" rating on the stock in a research report on Thursday, August 29th. Telsey Advisory Group reiterated an "outperform" rating and set a $42.00 price target on shares of Bath & Body Works in a research note on Monday. Robert W. Baird decreased their price target on Bath & Body Works from $54.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, August 29th. Finally, Barclays downgraded Bath & Body Works from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $31.00 to $28.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.88.

Bath & Body Works Stock Performance

Shares of BBWI stock traded down $0.16 during trading hours on Tuesday, hitting $35.62. 4,464,708 shares of the company were exchanged, compared to its average volume of 3,964,102. The business's 50-day simple moving average is $30.69 and its two-hundred day simple moving average is $35.74. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 0.98 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, analysts anticipate that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.25%. Bath & Body Works's dividend payout ratio (DPR) is currently 19.37%.

Insider Activity

In other news, CEO Gina Boswell bought 6,000 shares of the business's stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares of the company's stock, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Institutional Trading of Bath & Body Works

A number of institutional investors have recently made changes to their positions in the business. Lone Pine Capital LLC lifted its position in shares of Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company's stock worth $441,871,000 after purchasing an additional 1,547,399 shares in the last quarter. Anomaly Capital Management LP bought a new stake in shares of Bath & Body Works in the second quarter worth $113,995,000. FMR LLC lifted its position in shares of Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company's stock worth $80,315,000 after purchasing an additional 2,501,828 shares in the last quarter. Sound Shore Management Inc. CT lifted its position in shares of Bath & Body Works by 10.0% in the second quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company's stock worth $81,564,000 after purchasing an additional 189,889 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company's stock worth $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Company Profile

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.