Bath & Body Works, Inc. (NYSE:BBWI) Receives $45.06 Consensus Price Target from Brokerages

Shares of Bath & Body Works, Inc. (NYSE:BBWI) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $45.06.

BBWI has been the subject of a number of research reports. Raymond James reaffirmed an “outperform” rating and issued a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Piper Sandler raised their price objective on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Robert W. Baird lifted their price objective on Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. TD Cowen increased their target price on Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Cowen restated a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th.

Bath & Body Works Stock Down 2.1 %

NYSE BBWI opened at $30.29 on Friday. The stock’s 50-day simple moving average is $35.08 and its two-hundred day simple moving average is $34.15. Bath & Body Works has a twelve month low of $26.21 and a twelve month high of $52.99. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 0.92 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. On average, equities analysts expect that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Bath & Body Works announced that its board has authorized a stock buyback plan on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in shares of Bath & Body Works in the 3rd quarter worth about $735,000. Citigroup Inc. grew its holdings in Bath & Body Works by 59.8% in the third quarter. Citigroup Inc. now owns 374,664 shares of the company’s stock worth $11,959,000 after purchasing an additional 140,221 shares during the period. Cerity Partners LLC increased its stake in shares of Bath & Body Works by 227.2% during the third quarter. Cerity Partners LLC now owns 25,093 shares of the company’s stock valued at $801,000 after purchasing an additional 17,423 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Bath & Body Works by 12.6% during the third quarter. Daiwa Securities Group Inc. now owns 26,872 shares of the company’s stock valued at $858,000 after purchasing an additional 3,007 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Bath & Body Works by 17,496.5% in the 3rd 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. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.