The Goldman Sachs Group Issues Pessimistic Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI - Get Free Report) had its target price decreased by The Goldman Sachs Group from $44.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 52.70% from the company's previous close.

BBWI has been the subject of several other research reports. UBS Group lifted their price objective on Bath & Body Works from $32.00 to $36.00 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Citigroup raised their target price on shares of Bath & Body Works from $36.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Cowen reiterated a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Barclays boosted their price target on shares of Bath & Body Works from $31.00 to $35.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Finally, Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the company an "overweight" rating in a report on Thursday, May 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI traded down $0.42 during trading on Friday, hitting $28.16. The company's stock had a trading volume of 6,154,657 shares, compared to its average volume of 5,000,590. The business has a 50 day moving average price of $30.07 and a two-hundred day moving average price of $33.96. The company has a market capitalization of $6.00 billion, a PE ratio of 6.87, a P/E/G ratio of 0.92 and a beta of 1.87. 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 released 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 negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business posted $0.38 earnings per share. Bath & Body Works's revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Bath & Body Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock worth $1,093,306,000 after acquiring an additional 208,036 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Bath & Body Works by 7.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 11,016,767 shares of the company's stock worth $334,029,000 after purchasing an additional 781,681 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bath & Body Works by 5.5% during 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 purchasing an additional 445,887 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Bath & Body Works by 14,732.0% during the first quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company's stock worth $206,119,000 after purchasing an additional 6,752,274 shares during the period. Finally, Alliancebernstein L.P. grew its position in Bath & Body Works by 4.7% in the 1st quarter. Alliancebernstein L.P. now owns 5,422,058 shares of the company's stock valued at $164,397,000 after buying an additional 243,611 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

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.