Bath & Body Works, Inc. (NYSE:BBWI - Get Free Report) traded up 6.1% during mid-day trading on Monday . The company traded as high as $28.75 and last traded at $28.27. 3,946,102 shares were traded during mid-day trading, a decline of 24% from the average session volume of 5,213,682 shares. The stock had previously closed at $26.64.
Analysts Set New Price Targets
BBWI has been the subject of several recent analyst reports. Telsey Advisory Group reiterated an "outperform" rating and set a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. Wells Fargo & Company upgraded Bath & Body Works from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Barclays cut their target price on Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating for the company in a report on Monday. Finally, Piper Sandler upgraded Bath & Body Works from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $38.00 to $35.00 in a report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.13.
Get Our Latest Analysis on BBWI
Bath & Body Works Price Performance
The company has a market cap of $6.09 billion, a P/E ratio of 6.93, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. The stock has a fifty day moving average price of $32.15 and a two-hundred day moving average price of $33.84.
Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Equities analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.
Bath & Body Works Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, February 21st. Bath & Body Works's payout ratio is 21.98%.
Bath & Body Works declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Institutional Investors Weigh In On Bath & Body Works
A number of hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in Bath & Body Works during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. increased its stake in shares of Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock worth $26,000 after purchasing an additional 329 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Bath & Body Works by 58.8% in the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after purchasing an additional 335 shares during the period. Lindbrook Capital LLC lifted its stake in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock valued at $37,000 after purchasing an additional 431 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Bath & Body Works during the third quarter valued at $39,000. 95.14% of the stock is currently owned by institutional investors.
About Bath & Body Works
(
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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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