Evercore ISI Cuts Bath & Body Works (NYSE:BBWI) Price Target to $35.00

Bath & Body Works (NYSE:BBWI) had its price target decreased by Evercore ISI from $45.00 to $35.00 in a research note published on Wednesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

BBWI has been the subject of a number of other research reports. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an underweight rating to a neutral rating and increased their price target for the stock from $40.00 to $53.00 in a research note on Friday, May 17th. Telsey Advisory Group reaffirmed an outperform rating and issued a $53.00 target price on shares of Bath & Body Works in a report on Wednesday. Piper Sandler lowered their price target on Bath & Body Works from $47.00 to $39.00 and set a neutral rating on the stock in a report on Thursday, July 11th. Wells Fargo & Company dropped their price target on Bath & Body Works from $48.00 to $40.00 and set an equal weight rating on the stock in a research report on Wednesday, July 24th. Finally, Citigroup decreased their price objective on Bath & Body Works from $48.00 to $35.00 and set a neutral rating for the company in a research report on Tuesday, August 20th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $42.50.

Bath & Body Works Stock Performance

Bath & Body Works stock opened at $30.76 on Wednesday. The company has a market capitalization of $6.87 billion, a P/E ratio of 7.93, a PEG ratio of 1.16 and a beta of 1.85. Bath & Body Works has a fifty-two week low of $27.30 and a fifty-two week high of $52.99. The stock has a 50-day simple moving average of $35.46 and a 200-day simple moving average of $42.59.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, analysts forecast that Bath & Body Works will post 3.29 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.60%. Bath & Body Works’s payout ratio is currently 20.62%.

Institutional Trading of Bath & Body Works

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in shares of Bath & Body Works during the 4th quarter valued at approximately $27,000. First Community Trust NA acquired a new stake in shares of Bath & Body Works in the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its stake in Bath & Body Works by 72.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after purchasing an additional 337 shares in the last quarter. Federated Hermes Inc. raised its holdings in Bath & Body Works by 17.1% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock worth $70,000 after purchasing an additional 235 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its position in Bath & Body Works by 9,664.7% during the fourth quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock worth $72,000 after purchasing an additional 1,643 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Company Profile

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.