Bath & Body Works (NYSE:BBWI) Upgraded by Wells Fargo & Company to Overweight Rating

Wells Fargo & Company upgraded shares of Bath & Body Works (NYSE:BBWI) from an equal weight rating to an overweight rating in a report published on Friday morning, Marketbeat reports. Wells Fargo & Company currently has $48.00 target price on the stock, up from their previous target price of $42.00.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley dropped their target price on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Barclays upped their target price on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, November 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a report on Monday, November 25th. Finally, Piper Sandler increased their price objective on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.06.

Bath & Body Works Stock Performance

Shares of BBWI opened at $36.45 on Friday. The company has a 50 day moving average price of $35.75 and a 200-day moving average price of $33.77. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The stock has a market capitalization of $7.89 billion, a PE ratio of 8.89, a PEG ratio of 1.43 and a beta of 1.82.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $0.48 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Bath & Body Works will post 3.26 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, November 22nd. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BBWI. TD Private Client Wealth LLC grew its position in shares of Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after acquiring an additional 331 shares during the period. GAMMA Investing LLC boosted its position in Bath & Body Works by 34.4% during the third quarter. GAMMA Investing LLC now owns 2,481 shares of the company’s stock worth $79,000 after purchasing an additional 635 shares in the last quarter. Everett Harris & Co. CA increased its position in shares of Bath & Body Works by 1.5% in the third quarter. Everett Harris & Co. CA now owns 49,140 shares of the company’s stock valued at $1,569,000 after buying an additional 725 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Bath & Body Works by 14.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,514 shares of the company’s stock worth $208,000 after buying an additional 847 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after buying an additional 900 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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.