Piper Sandler Increases Bath & Body Works (NYSE:BBWI) Price Target to $45.00

Bath & Body Works (NYSE:BBWI - Free Report) had its price target lifted by Piper Sandler from $44.00 to $45.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. UBS Group raised their target price on shares of Bath & Body Works from $46.00 to $52.00 and gave the stock a neutral rating in a research report on Monday, March 4th. Telsey Advisory Group restated an outperform rating and set a $53.00 target price on shares of Bath & Body Works in a research report on Friday. TD Cowen raised their target price on shares of Bath & Body Works from $35.00 to $55.00 and gave the stock an outperform rating in a research report on Friday, March 1st. Barclays downgraded shares of Bath & Body Works from an overweight rating to an equal weight rating and increased their price target for the stock from $37.00 to $45.00 in a research note on Thursday, January 4th. Finally, Wells Fargo & Company increased their price target on shares of Bath & Body Works from $40.00 to $42.00 and gave the stock an equal weight rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $46.33.

Bath & Body Works Stock Performance

BBWI traded down $0.61 on Tuesday, hitting $46.14. 2,952,316 shares of the company were exchanged, compared to its average volume of 2,827,802. The business's fifty day moving average is $45.96 and its 200 day moving average is $39.44. Bath & Body Works has a fifty-two week low of $27.30 and a fifty-two week high of $50.34. The firm has a market capitalization of $10.38 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.48 and a beta of 1.86.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.85 by $0.21. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 earnings per share. Analysts forecast that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.73%. Bath & Body Works's dividend payout ratio is currently 20.78%.

Insiders Place Their Bets

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the business's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total value of $209,493.65. Following the transaction, the insider now owns 45,992 shares in the company, valued at approximately $2,248,548.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Bath & Body Works by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 26,296,068 shares of the company's stock worth $1,134,938,000 after purchasing an additional 606,525 shares during the last quarter. BlackRock Inc. increased its position in shares of Bath & Body Works by 1.0% in the 1st quarter. BlackRock Inc. now owns 17,074,153 shares of the company's stock worth $624,573,000 after purchasing an additional 174,915 shares during the last quarter. Lone Pine Capital LLC increased its position in shares of Bath & Body Works by 20.0% in the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company's stock worth $450,973,000 after purchasing an additional 1,742,471 shares during the last quarter. State Street Corp increased its position in shares of Bath & Body Works by 0.6% in the 3rd quarter. State Street Corp now owns 10,038,767 shares of the company's stock worth $327,264,000 after purchasing an additional 58,201 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Bath & Body Works by 8.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,364,253 shares of the company's stock valued at $171,326,000 after buying an additional 484,674 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Company Profile

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.