Bath & Body Works (NYSE:BBWI) Price Target Raised to $48.00

Bath & Body Works (NYSE:BBWI - Free Report) had its price objective boosted by Wells Fargo & Company from $42.00 to $48.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also weighed in on the stock. UBS Group raised their price objective on shares of Bath & Body Works from $46.00 to $52.00 and gave the company a neutral rating in a research report on Monday, March 4th. Telsey Advisory Group restated an outperform rating and issued a $53.00 price objective on shares of Bath & Body Works in a research note on Friday, April 5th. TD Cowen raised their price objective on shares of Bath & Body Works from $35.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Evercore ISI raised their price objective on shares of Bath & Body Works from $30.00 to $45.00 and gave the stock an in-line rating in a research note on Friday, March 1st. Finally, Piper Sandler raised their price objective on shares of Bath & Body Works from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $46.73.

Bath & Body Works Trading Up 1.0 %

BBWI traded up $0.47 on Wednesday, reaching $45.60. The company had a trading volume of 2,181,617 shares, compared to its average volume of 2,749,023. The company has a fifty day moving average of $46.17 and a 200-day moving average of $40.36. The company has a market capitalization of $10.26 billion, a P/E ratio of 11.72, a PEG ratio of 1.43 and a beta of 1.86. Bath & Body Works has a one year low of $27.30 and a one year high of $50.34.

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

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.75%. Bath & Body Works's payout ratio is 20.78%.

Insider Transactions at Bath & Body Works

In related news, insider Thomas E. Mazurek sold 4,285 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total value of $209,493.65. Following the completion of the transaction, the insider now directly owns 45,992 shares in the company, valued at approximately $2,248,548.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Bath & Body Works

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Bath & Body Works during the 4th quarter worth approximately $101,669,000. Darsana Capital Partners LP bought a new stake in shares of Bath & Body Works during the 3rd quarter worth approximately $76,050,000. Lone Pine Capital LLC raised its stake in shares of Bath & Body Works by 20.0% during 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 in the last quarter. Sound Shore Management Inc. CT lifted its holdings in shares of Bath & Body Works by 379.2% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company's stock worth $82,145,000 after buying an additional 1,506,110 shares in the last quarter. Finally, Cadian Capital Management LP acquired a new stake in shares of Bath & Body Works during the fourth quarter worth $58,266,000. Institutional investors own 95.14% of the company's stock.

About Bath & Body Works

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.