Wells Fargo & Company Issues Pessimistic Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI) had its price target cut by Wells Fargo & Company from $35.00 to $32.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

BBWI has been the topic of several other reports. Telsey Advisory Group reiterated an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a research report on Thursday, September 26th. Bank of America cut their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their price target on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. UBS Group decreased their price target on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.63.

Bath & Body Works Stock Performance

Bath & Body Works stock traded up $0.11 during midday trading on Wednesday, reaching $31.86. 979,694 shares of the company were exchanged, compared to its average volume of 3,739,556. The firm’s 50-day simple moving average is $30.01 and its 200-day simple moving average is $37.12. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 0.99 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, analysts forecast that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is presently 19.37%.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bath & Body Works

Several institutional investors and hedge funds have recently made changes to their positions in BBWI. First Community Trust NA acquired a new stake in Bath & Body Works in the second quarter valued at $30,000. Livforsakringsbolaget Skandia Omsesidigt increased its position 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 worth $38,000 after purchasing an additional 900 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of Bath & Body Works by 224.0% in the 1st quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after purchasing an additional 1,017 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Bath & Body Works by 65.4% during the second quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after purchasing an additional 730 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Bath & Body Works by 23.4% in the second quarter. Blue Trust Inc. now owns 2,767 shares of the company’s stock valued at $108,000 after buying an additional 524 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.