Bath & Body Works (NYSE:BBWI) Given New $38.00 Price Target at Barclays

Bath & Body Works (NYSE:BBWI) had its price target lowered by Barclays from $43.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

BBWI has been the topic of a number of other reports. TD Cowen increased their price target on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Raymond James restated an “outperform” rating and issued a $46.00 target price (up from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Telsey Advisory Group restated an “outperform” rating and issued a $43.00 target price on shares of Bath & Body Works in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised their target price on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $42.00 to $48.00 in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.06.

Bath & Body Works Stock Up 1.1 %

NYSE:BBWI opened at $34.63 on Monday. The business’s 50 day moving average is $37.45 and its two-hundred day moving average is $34.18. The company has a market cap of $7.50 billion, a PE ratio of 8.45, a P/E/G ratio of 0.92 and a beta of 1.83. Bath & Body Works has a 52 week low of $26.20 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.05. The business 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%. As a group, sell-side analysts expect that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, February 21st. Bath & Body Works’s dividend payout ratio is presently 21.98%.

Bath & Body Works announced that its board has authorized a stock repurchase program on Thursday, February 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Bath & Body Works

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Bath & Body Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock worth $1,093,306,000 after buying an additional 208,036 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Bath & Body Works by 4.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company’s stock worth $396,815,000 after buying an additional 422,973 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Bath & Body Works by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock worth $329,317,000 after buying an additional 445,887 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Bath & Body Works by 35.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock worth $200,768,000 after acquiring an additional 1,360,264 shares in the last quarter. Finally, Anomaly Capital Management LP raised its holdings in shares of Bath & Body Works by 38.3% during the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock worth $188,456,000 after acquiring an additional 1,346,752 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Company Profile

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.