Bath & Body Works (NYSE:BBWI) Price Target Raised to $44.00 at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price objective upped by investment analysts at Wells Fargo & Company from $40.00 to $44.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 29.76% from the company’s previous close.

BBWI has been the subject of a number of other research reports. Cowen reiterated a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Robert W. Baird increased their target price on 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 raised Bath & Body Works from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $38.00 to $35.00 in a research note on Wednesday, April 9th. Morgan Stanley dropped their price target on Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Finally, Barclays lowered their price objective on Bath & Body Works from $38.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.69.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $33.91 on Wednesday. The firm has a market cap of $7.22 billion, a P/E ratio of 8.27, a P/E/G ratio of 0.92 and a beta of 1.87. Bath & Body Works has a fifty-two week low of $24.96 and a fifty-two week high of $52.99. The business’s 50 day moving average price is $29.89 and its 200-day moving average price is $33.89.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping 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 business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. As a group, equities analysts predict that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has initiated a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Bath & Body Works

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Bath & Body Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock valued at $1,093,306,000 after purchasing an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Bath & Body Works by 7.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,016,767 shares of the company’s stock worth $334,029,000 after acquiring an additional 781,681 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Bath & Body Works by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock worth $329,317,000 after acquiring an additional 445,887 shares during the period. Victory Capital Management Inc. grew 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 acquiring an additional 6,752,274 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in 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 buying an additional 1,360,264 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

About Bath & Body Works

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.