Bath & Body Works (NYSE:BBWI) Price Target Cut to $45.00

Bath & Body Works (NYSE:BBWI) had its target price trimmed by Bank of America from $54.00 to $45.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

BBWI has been the subject of a number of other reports. Piper Sandler cut their target price on shares of Bath & Body Works from $47.00 to $39.00 and set a neutral rating for the company in a report on Thursday, July 11th. Evercore ISI lowered their price target on Bath & Body Works from $45.00 to $35.00 and set an in-line rating for the company in a research report on Wednesday, August 28th. Barclays lowered their price target on Bath & Body Works from $45.00 to $32.00 and set an equal weight rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets lifted their price objective on Bath & Body Works from $50.00 to $55.00 and gave the company an outperform rating in a report on Wednesday, June 5th. Finally, Wells Fargo & Company decreased their price objective on Bath & Body Works from $48.00 to $40.00 and set an equal weight rating for the company in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $42.50.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $30.76 on Thursday. Bath & Body Works has a one year low of $27.30 and a one year high of $52.99. The company’s 50-day moving average is $35.46 and its 200 day moving average is $42.57. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 7.93, a price-to-earnings-growth ratio of 1.04 and a beta of 1.85.

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, topping the consensus estimate of $0.33 by $0.05. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, research analysts predict that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is 20.62%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Anomaly Capital Management LP acquired a new position in shares of Bath & Body Works during the 2nd quarter worth approximately $113,995,000. Norges Bank purchased a new position in shares of Bath & Body Works during the 4th quarter worth $101,669,000. Lone Pine Capital LLC grew its holdings in shares of Bath & Body Works by 20.0% during the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock worth $450,973,000 after purchasing an additional 1,742,471 shares during the period. Sound Shore Management Inc. CT grew its holdings in shares of Bath & Body Works by 379.2% during the 4th quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock worth $82,145,000 after purchasing an additional 1,506,110 shares during the period. Finally, Cadian Capital Management LP purchased a new position in shares of Bath & Body Works during the 4th quarter worth $58,266,000. 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.