Bank of America Increases Bath & Body Works (NYSE:BBWI) Price Target to $50.00

Bath & Body Works (NYSE:BBWIGet Rating) had its price objective hoisted by Bank of America from $48.00 to $50.00 in a report issued on Thursday, The Fly reports.

BBWI has been the topic of several other reports. Citigroup boosted their price target on shares of Bath & Body Works to $48.00 in a report on Monday, August 22nd. Evercore ISI lifted their price objective on shares of Bath & Body Works to $40.00 in a research note on Monday, August 22nd. Barclays lifted their price objective on shares of Bath & Body Works from $33.00 to $42.00 and gave the company an equal weight rating in a research note on Friday, August 19th. Wedbush lowered shares of Bath & Body Works to an underperform rating in a research note on Monday, August 22nd. Finally, BMO Capital Markets lifted their price objective on shares of Bath & Body Works from $45.00 to $48.00 and gave the company an outperform rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bath & Body Works has an average rating of Moderate Buy and an average price target of $51.65.

Bath & Body Works Stock Down 1.9 %

Bath & Body Works stock opened at $38.23 on Thursday. The company’s fifty day simple moving average is $34.64 and its 200-day simple moving average is $36.00. Bath & Body Works has a 12 month low of $25.75 and a 12 month high of $78.56. The stock has a market cap of $8.73 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.86 and a beta of 1.69.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.80 annualized dividend and a dividend yield of 2.09%. Bath & Body Works’s payout ratio is 20.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBWI. Prospera Financial Services Inc bought a new position in shares of Bath & Body Works during the 1st quarter worth about $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Bath & Body Works by 119.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 525 shares of the company’s stock worth $26,000 after purchasing an additional 286 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Bath & Body Works by 490.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 585 shares of the company’s stock worth $28,000 after purchasing an additional 486 shares during the period. Ellevest Inc. increased its holdings in shares of Bath & Body Works by 156.0% during the 2nd quarter. Ellevest Inc. now owns 1,047 shares of the company’s stock worth $28,000 after purchasing an additional 638 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in shares of Bath & Body Works by 361.4% during the 1st quarter. First Horizon Advisors Inc. now owns 646 shares of the company’s stock worth $31,000 after purchasing an additional 506 shares during the period. Institutional investors own 96.19% of the company’s stock.

Bath & Body Works Company Profile

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Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.

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