Bath & Body Works (NYSE:BBWI) Price Target Cut to $38.00 by Analysts at Barclays

Bath & Body Works (NYSE:BBWI) had its price objective cut by Barclays from $43.00 to $38.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also recently issued research reports about the company. Robert W. Baird upped their price objective on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup upgraded Bath & Body Works from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $48.00 in a research note on Friday. Argus restated a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Cowen restated a “buy” rating on shares of Bath & Body Works in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus price target of $45.06.

Bath & Body Works Stock Performance

NYSE:BBWI opened at $35.38 on Monday. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99. The business’s 50-day simple moving average is $37.63 and its 200 day simple moving average is $34.17. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 0.92 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. On average, equities research analysts predict that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works declared that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, February 21st. Bath & Body Works’s dividend payout ratio (DPR) is 21.98%.

Hedge Funds Weigh In On Bath & Body Works

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBWI. D1 Capital Partners L.P. bought a new position in Bath & Body Works in the 4th quarter worth approximately $109,797,000. FMR LLC grew its holdings in Bath & Body Works by 17,496.5% in the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after buying an additional 2,501,828 shares in the last quarter. Norges Bank bought a new position in Bath & Body Works in the 4th quarter worth approximately $73,572,000. Arrowstreet Capital Limited Partnership boosted its stake in Bath & Body Works by 79.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company’s stock valued at $150,507,000 after purchasing an additional 1,715,096 shares in the last quarter. Finally, KBC Group NV boosted its stake in Bath & Body Works by 9,023.5% during the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

About Bath & Body Works

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.