Bath & Body Works (NYSE:BBWI) Price Target Cut to $39.00 by Analysts at JPMorgan Chase & Co.

Bath & Body Works (NYSE:BBWI) had its price objective trimmed by JPMorgan Chase & Co. from $42.00 to $39.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on BBWI. Telsey Advisory Group reiterated an outperform rating and issued a $53.00 price target on shares of Bath & Body Works in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bath & Body Works from $57.00 to $54.00 and set a buy rating on the stock in a research note on Monday. Raymond James reduced their price target on shares of Bath & Body Works from $51.00 to $42.00 and set an outperform rating for the company in a research report on Thursday. Piper Sandler lowered their price objective on Bath & Body Works from $47.00 to $39.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. Finally, BMO Capital Markets increased their target price on Bath & Body Works from $50.00 to $55.00 and gave the company an outperform rating in a research note on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $42.50.

Bath & Body Works Stock Down 4.0 %

Shares of BBWI opened at $31.01 on Thursday. The stock has a market cap of $6.92 billion, a P/E ratio of 7.99, a P/E/G ratio of 1.16 and a beta of 1.85. The business’s 50 day moving average price is $35.68 and its 200-day moving average price is $42.68. Bath & Body Works has a 52 week low of $27.30 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities analysts anticipate that Bath & Body Works will post 3.29 EPS for the current year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, August 23rd. Bath & Body Works’s payout ratio is currently 20.62%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of Bath & Body Works during the 4th quarter valued at $439,000. Federated Hermes Inc. lifted its position in shares of Bath & Body Works by 17.1% during the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after buying an additional 235 shares in the last quarter. CWM LLC raised its stake in Bath & Body Works by 7.3% during the 4th quarter. CWM LLC now owns 5,167 shares of the company’s stock worth $223,000 after acquiring an additional 353 shares during the period. GAMMA Investing LLC bought a new position in shares of Bath & Body Works in the fourth quarter worth approximately $27,000. Finally, New York Life Investment Management LLC boosted its holdings in Bath & Body Works by 2.1% in the 4th quarter. New York Life Investment Management LLC now owns 57,546 shares of the company’s stock worth $2,484,000 after buying an additional 1,208 shares during the period. 95.14% of the stock is currently owned by institutional investors.

About Bath & Body Works

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.