Bath & Body Works (NYSE:BBWI) Earns Maintains Rating from 51job

Posted by Faye Duncan on May 26th, 2023

51job reaffirmed their maintains rating on shares of Bath & Body Works (NYSE:BBWI – Get Rating) in a research note published on Monday, Benzinga reports.

A number of other brokerages have also recently weighed in on BBWI. Wells Fargo & Company dropped their price target on Bath & Body Works from $46.00 to $40.00 and set an equal weight rating on the stock in a research note on Monday, April 10th. Piper Sandler lowered Bath & Body Works from an overweight rating to a neutral rating and reduced their target price for the stock from $48.00 to $37.00 in a report on Thursday, April 20th. JPMorgan Chase & Co. reduced their target price on Bath & Body Works from $48.00 to $38.00 in a report on Monday, May 8th. Telsey Advisory Group restated an outperform rating and issued a $52.00 target price on shares of Bath & Body Works in a report on Thursday, February 23rd. Finally, UBS Group lowered Bath & Body Works from a buy rating to a neutral rating in a report on Wednesday, March 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $46.45.

Bath & Body Works Price Performance

Shares of BBWI opened at $36.64 on Monday. The business’s fifty day moving average price is $35.39 and its 200 day moving average price is $39.53. Bath & Body Works has a 12-month low of $25.75 and a 12-month high of $49.55. The stock has a market capitalization of $8.38 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.00 and a beta of 1.70.

Bath & Body Works (NYSE:BBWI – Get Rating) last issued its quarterly earnings data on Thursday, May 18th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Bath & Body Works had a net margin of 9.67% and a negative return on equity of 29.65%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, research analysts anticipate that Bath & Body Works will post 2.98 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, June 1st. Bath & Body Works’s dividend payout ratio (DPR) is presently 25.32%.

Insider Activity

In other news, CFO Wendy C. Arlin sold 1,625 shares of the company’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $38.29, for a total transaction of $62,221.25. Following the transaction, the chief financial officer now owns 91,072 shares of the company’s stock, valued at $3,487,146.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bath & Body Works

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Bath & Body Works by 1.0% in the first quarter. BlackRock Inc. now owns 17,074,153 shares of the company’s stock valued at $624,573,000 after buying an additional 174,915 shares during the period. State Street Corp increased its holdings in shares of Bath & Body Works by 0.6% in the third quarter. State Street Corp now owns 10,038,767 shares of the company’s stock worth $327,264,000 after acquiring an additional 58,201 shares in the last quarter. Third Point LLC bought a new stake in shares of Bath & Body Works in the third quarter worth about $265,201,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Bath & Body Works by 8.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,364,253 shares of the company’s stock worth $171,326,000 after acquiring an additional 484,674 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Bath & Body Works by 2.3% in the first quarter. Geode Capital Management LLC now owns 4,725,145 shares of the company’s stock worth $172,450,000 after acquiring an additional 106,263 shares in the last quarter. Institutional investors and hedge funds own 96.34% of the company’s stock.

About Bath & Body Works

(Get Rating)

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.