Bath & Body Works (NYSE:BBWI) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bath & Body Works (NYSE:BBWI) from a neutral rating to an overweight rating in a research report report published on Tuesday, MarketBeat reports. The firm currently has $47.00 target price on the stock, up from their previous target price of $41.00.

A number of other research analysts have also weighed in on the company. 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 research note on Tuesday, November 26th. Piper Sandler increased their price target on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $42.00 to $48.00 in a research note on Friday, January 10th. Telsey Advisory Group reissued an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research note on Monday, November 25th. Finally, TD Cowen increased their price target on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.56.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $39.89 on Tuesday. The business’s fifty day moving average price is $37.60 and its two-hundred day moving average price is $33.72. The stock has a market cap of $8.64 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.90 and a beta of 1.83. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Bath & Body Works’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, equities research analysts predict that Bath & Body Works will post 3.26 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, February 21st. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BBWI. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works during the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. grew 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 in the last quarter. True Wealth Design LLC grew its stake in shares of Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after acquiring an additional 1,054 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after acquiring an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.