Bath & Body Works (NYSE:BBWI) Price Target Raised to $42.00 at TD Cowen

Bath & Body Works (NYSE:BBWI) had its price objective lifted by TD Cowen from $40.00 to $42.00 in a research report report published on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research firms also recently commented on BBWI. Bank of America reduced their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company upped their price target on Bath & Body Works from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group dropped their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $42.00 price objective on shares of Bath & Body Works in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Bath & Body Works has an average rating of “Moderate Buy” and an average target price of $41.88.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $35.23 on Tuesday. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The stock has a market cap of $7.72 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.98 and a beta of 1.79. The firm has a fifty day moving average price of $30.69 and a 200 day moving average price of $35.74.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Sell-side analysts expect that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.27%. Bath & Body Works’s payout ratio is 19.37%.

Insider Activity at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bath & Body Works

A number of large investors have recently bought and sold shares of BBWI. Anthracite Investment Company Inc. purchased a new stake in shares of Bath & Body Works in the third quarter valued at $2,921,000. Principal Financial Group Inc. lifted its holdings in Bath & Body Works by 328.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after purchasing an additional 820,379 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Bath & Body Works by 18.1% during the 3rd quarter. New York State Teachers Retirement System now owns 266,235 shares of the company’s stock worth $8,498,000 after purchasing an additional 40,793 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Bath & Body Works by 404.4% during the third quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company’s stock worth $4,295,000 after buying an additional 107,868 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Bath & Body Works by 152.7% during the second quarter. Renaissance Technologies LLC now owns 901,133 shares of the company’s stock worth $35,189,000 after buying an additional 544,599 shares in the last quarter. Institutional investors and hedge funds 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.