Bath & Body Works (NYSE:BBWI) Price Target Raised to $39.00 at Piper Sandler

Bath & Body Works (NYSE:BBWI) had its price objective raised by Piper Sandler from $36.00 to $39.00 in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other equities analysts also recently weighed in on BBWI. Wells Fargo & Company raised their target price on shares of Bath & Body Works from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Barclays upped their price target on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. lifted their target price on Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.69.

Bath & Body Works Price Performance

BBWI opened at $36.63 on Monday. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.43 and a beta of 1.82. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99. The business has a 50 day simple moving average of $35.11 and a two-hundred day simple moving average of $33.80.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business earned $0.48 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that Bath & Body Works will post 3.26 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, November 22nd. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Insider Buying and Selling

In other news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now 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 SEC, which is available through the SEC website. 0.27% of the stock is owned by insiders.

Institutional Trading of Bath & Body Works

A number of large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in shares of Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Bath & Body Works in the 3rd quarter worth approximately $39,000. TD Private Client Wealth LLC raised its holdings in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after buying an additional 331 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in Bath & Body Works by 480.3% during the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after buying an additional 1,436 shares during the period. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Company Profile

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.