Bath & Body Works (NYSE:BBWI) Given New $48.00 Price Target at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its target price boosted by Wells Fargo & Company from $42.00 to $48.00 in a research report released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of Bath & Body Works from $50.00 to $54.00 and gave the company an outperform rating in a research report on Friday, March 1st. UBS Group raised their target price on shares of Bath & Body Works from $46.00 to $52.00 and gave the company a neutral rating in a research note on Monday, March 4th. BMO Capital Markets raised their target price on shares of Bath & Body Works from $48.00 to $50.00 and gave the company an outperform rating in a research note on Friday, March 1st. The Goldman Sachs Group raised their target price on shares of Bath & Body Works from $49.00 to $56.00 and gave the company a buy rating in a research note on Monday, March 4th. Finally, Barclays lowered shares of Bath & Body Works from an overweight rating to an equal weight rating and raised their target price for the company from $37.00 to $45.00 in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bath & Body Works has an average rating of Hold and an average target price of $46.73.

Bath & Body Works Trading Up 1.0 %

BBWI opened at $45.60 on Wednesday. The stock has a market capitalization of $10.26 billion, a PE ratio of 11.84, a PEG ratio of 1.46 and a beta of 1.86. Bath & Body Works has a 1-year low of $27.30 and a 1-year high of $50.34. The firm has a 50-day moving average price of $46.21 and a two-hundred day moving average price of $40.40.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 29th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.21. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 EPS. On average, research analysts predict that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a yield of 1.75%. Bath & Body Works’s dividend payout ratio (DPR) is currently 20.78%.

Insiders Place Their Bets

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total transaction of $209,493.65. Following the sale, the insider now directly owns 45,992 shares in the company, valued at approximately $2,248,548.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Bath & Body Works

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Bath & Body Works by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 26,296,068 shares of the company’s stock worth $1,134,938,000 after buying an additional 606,525 shares during the period. Lone Pine Capital LLC raised its holdings in shares of Bath & Body Works by 20.0% in the fourth quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock valued at $450,973,000 after purchasing an additional 1,742,471 shares during the last quarter. Norges Bank acquired a new stake in shares of Bath & Body Works in the fourth quarter valued at approximately $101,669,000. Darsana Capital Partners LP acquired a new stake in shares of Bath & Body Works in the third quarter valued at approximately $76,050,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bath & Body Works by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,963,919 shares of the company’s stock valued at $84,763,000 after purchasing an additional 38,272 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.