Bath & Body Works (NYSE:BBWI) Given Outperform Rating at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Bath & Body Works (NYSE:BBWI - Free Report) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has a $38.00 price objective on the stock, down from their previous price objective of $43.00.

Other equities analysts have also recently issued research reports about the stock. Raymond James cut their target price on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Morgan Stanley cut their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird raised their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, UBS Group raised their target price on shares of Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Bath & Body Works has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock traded down $0.42 during trading on Thursday, reaching $28.16. The company had a trading volume of 6,154,657 shares, compared to its average volume of 4,999,252. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87. The firm's fifty day moving average is $30.07 and its 200-day moving average is $33.94. Bath & Body Works has a fifty-two week low of $24.96 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Bath & Body Works declared that its board has approved a share buyback plan on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. Bath & Body Works's payout ratio is currently 21.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SRS Capital Advisors Inc. increased its stake in shares of Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after acquiring an additional 329 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Bath & Body Works during the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC increased its stake in shares of Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock valued at $37,000 after acquiring an additional 431 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Bath & Body Works by 135.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock valued at $39,000 after acquiring an additional 582 shares during the period. Finally, SVB Wealth LLC acquired a new position in shares of Bath & Body Works during the first quarter valued at approximately $35,000. Institutional investors and hedge funds 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.