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

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

A number of other equities analysts also recently weighed in on BBWI. Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research report on Thursday, September 26th. The Goldman Sachs Group reduced their price target on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Robert W. Baird reduced their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, UBS Group cut their price objective on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

Bath & Body Works Price Performance

Shares of BBWI stock opened at $30.00 on Wednesday. The stock has a market cap of $6.57 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 1.01 and a beta of 1.79. The stock has a 50-day moving average of $30.01 and a 200-day moving average of $36.93. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts anticipate that Bath & Body Works will post 3.18 earnings per share for the current year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.37%.

Insiders Place Their Bets

In other news, CEO Gina Boswell acquired 6,000 shares of the 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 transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BBWI. Vanguard Group Inc. grew its holdings in shares of Bath & Body Works by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after purchasing an additional 1,102,124 shares in the last quarter. Lone Pine Capital LLC grew its holdings in shares of Bath & Body Works by 15.8% during the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after purchasing an additional 1,547,399 shares in the last quarter. Anomaly Capital Management LP acquired a new stake in shares of Bath & Body Works during the 2nd quarter worth $113,995,000. Sound Shore Management Inc. CT grew its holdings in shares of Bath & Body Works by 10.0% during the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after purchasing an additional 189,889 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Bath & Body Works by 9,023.5% during the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

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.