Bath & Body Works, Inc. (NYSE:BBWI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Bath & Body Works, Inc. (NYSE:BBWI) has been assigned an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $41.69.

A number of equities research analysts have weighed in on BBWI shares. Wells Fargo & Company boosted their target price on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and issued a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Raymond James decreased their price target on Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Finally, Piper Sandler upgraded Bath & Body Works from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $38.00 to $35.00 in a report on Wednesday, April 9th.

Bath & Body Works Trading Down 0.7%

Shares of NYSE:BBWI opened at $33.73 on Friday. The firm has a 50 day moving average of $29.97 and a 200-day moving average of $33.96. The stock has a market capitalization of $7.18 billion, a PE ratio of 8.23, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works has a 12 month low of $24.96 and a 12 month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. On average, research analysts predict that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.37%. Bath & Body Works’s payout ratio is 21.98%.

Bath & Body Works declared that its board has authorized a share repurchase program on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Bath & Body Works

Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bath & Body Works by 32.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company’s stock valued at $2,046,000 after buying an additional 12,964 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Bath & Body Works by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company’s stock worth $3,428,000 after acquiring an additional 4,625 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Bath & Body Works in the 4th quarter valued at about $258,000. Charles Schwab Investment Management Inc. lifted its position in Bath & Body Works by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company’s stock valued at $66,088,000 after acquiring an additional 195,813 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Bath & Body Works during the 4th quarter valued at about $1,350,000. 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.