Barclays Cuts Bath & Body Works (NYSE:BBWI) Price Target to $38.00

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

Several other equities analysts also recently weighed in on BBWI. Cowen reissued a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Argus reissued a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Piper Sandler lifted their price objective on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Robert W. Baird lifted their price objective on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, Morgan Stanley lowered their price objective on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.06.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $34.63 on Monday. The stock has a fifty day moving average price of $37.45 and a 200 day moving average price of $34.18. The stock has a market cap of $7.50 billion, a PE ratio of 8.45, a P/E/G ratio of 0.92 and a beta of 1.83. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99.

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

Bath & Body Works Announces Dividend

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 paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, February 21st. Bath & Body Works’s dividend payout ratio is presently 21.98%.

Bath & Body Works declared that its Board of Directors has approved a share buyback program on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BBWI. Golden State Wealth Management LLC acquired a new position in shares of Bath & Body Works in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. lifted its stake in shares of Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after acquiring an additional 329 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Bath & Body Works by 5,270.0% in the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after acquiring an additional 1,054 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after acquiring an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of 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 acquiring an additional 431 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 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.