Wells Fargo & Company Increases Bath & Body Works (NYSE:BBWI) Price Target to $38.00

Bath & Body Works (NYSE:BBWI) had its price target raised by analysts at Wells Fargo & Company from $32.00 to $38.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.79% from the company’s current price.

BBWI has been the topic of a number of other research reports. BMO Capital Markets restated an “outperform” rating and issued a $50.00 price objective (down previously from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Bank of America reduced their price objective on shares of 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. Piper Sandler increased their target price on shares of Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Raymond James reduced their price target on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Trading Up 2.0 %

NYSE BBWI opened at $35.92 on Tuesday. The company has a market capitalization of $7.87 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The firm’s fifty day simple moving average is $30.81 and its 200-day simple moving average is $35.65.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. As a group, analysts predict that Bath & Body Works will post 3.18 EPS for the current year.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction on Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the transaction, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Anthracite Investment Company Inc. bought a new stake in Bath & Body Works in the 3rd quarter valued at $2,921,000. Principal Financial Group Inc. boosted its position in shares of Bath & Body Works by 328.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after acquiring an additional 820,379 shares in the last quarter. New York State Teachers Retirement System increased its stake in Bath & Body Works by 18.1% in the third quarter. New York State Teachers Retirement System now owns 266,235 shares of the company’s stock valued at $8,498,000 after acquiring an additional 40,793 shares during the period. Los Angeles Capital Management LLC increased its stake in Bath & Body Works by 404.4% in the third quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company’s stock valued at $4,295,000 after acquiring an additional 107,868 shares during the period. Finally, Renaissance Technologies LLC raised its position in Bath & Body Works by 152.7% in the second quarter. Renaissance Technologies LLC now owns 901,133 shares of the company’s stock worth $35,189,000 after purchasing an additional 544,599 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.