Bath & Body Works (NYSE:BBWI) PT Raised to $50.00

Bath & Body Works (NYSE:BBWIGet Rating) had its price objective increased by Robert W. Baird from $48.00 to $50.00 in a report released on Thursday morning, The Fly reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently commented on the company. Telsey Advisory Group boosted their target price on Bath & Body Works from $40.00 to $52.00 and gave the stock an outperform rating in a research note on Thursday, August 18th. BMO Capital Markets boosted their target price on Bath & Body Works from $45.00 to $48.00 and gave the stock an outperform rating in a research note on Thursday, August 18th. Credit Suisse Group lowered their target price on Bath & Body Works from $49.00 to $42.00 and set a neutral rating for the company in a research note on Thursday, August 18th. Piper Sandler lowered their target price on Bath & Body Works to $44.00 in a research note on Friday, July 22nd. Finally, Raymond James upped their price objective on Bath & Body Works from $43.00 to $48.00 and gave the stock a strong-buy rating in a research report on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $51.65.

Bath & Body Works Price Performance

BBWI opened at $38.23 on Thursday. Bath & Body Works has a 12 month low of $25.75 and a 12 month high of $78.56. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.86 and a beta of 1.69. The business has a fifty day moving average price of $34.64 and a 200 day moving average price of $36.00.

Bath & Body Works Dividend Announcement

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

Institutional Trading of Bath & Body Works

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBWI. Third Point LLC purchased a new stake in Bath & Body Works during the 3rd quarter valued at approximately $265,201,000. Steadfast Capital Management LP raised its stake in Bath & Body Works by 7,923.4% during the 1st quarter. Steadfast Capital Management LP now owns 6,760,507 shares of the company’s stock valued at $323,152,000 after acquiring an additional 6,676,247 shares during the last quarter. Balyasny Asset Management LLC purchased a new stake in Bath & Body Works during the 3rd quarter valued at approximately $94,163,000. Renaissance Technologies LLC raised its stake in shares of Bath & Body Works by 114.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,778,033 shares of the company’s stock worth $101,705,000 after buying an additional 2,012,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Bath & Body Works during the 2nd quarter worth approximately $36,823,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

About Bath & Body Works

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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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Analyst Recommendations for Bath & Body Works (NYSE:BBWI)

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