Bath & Body Works (NYSE:BBWI) Price Target Lowered to $49.00 at The Goldman Sachs Group

Bath & Body Works (NYSE:BBWI) had its target price reduced by The Goldman Sachs Group from $60.00 to $49.00 in a report released on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bath & Body Works from $57.00 to $54.00 and set a buy rating on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an underweight rating to a neutral rating and boosted their price target for the stock from $40.00 to $53.00 in a report on Friday, May 17th. Citigroup lowered their price objective on shares of Bath & Body Works from $48.00 to $35.00 and set a neutral rating on the stock in a research report on Tuesday, August 20th. Raymond James lowered their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an outperform rating on the stock in a research report on Thursday. Finally, Barclays lowered their price objective on shares of Bath & Body Works from $32.00 to $31.00 and set an equal weight rating on the stock in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bath & Body Works presently has a consensus rating of Moderate Buy and an average price target of $42.50.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $30.76 on Thursday. The stock has a market capitalization of $6.87 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.04 and a beta of 1.85. The company has a 50-day moving average price of $35.46 and a 200-day moving average price of $42.57. Bath & Body Works has a 1 year low of $27.30 and a 1 year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results 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. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities research analysts anticipate 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 yield of 2.60%. The ex-dividend date of this dividend is Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Institutional Trading of Bath & Body Works

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP increased its holdings in Bath & Body Works by 320.7% during the 2nd quarter. Quarry LP now owns 3,795 shares of the company’s stock worth $148,000 after acquiring an additional 2,893 shares during the period. Creative Planning increased its holdings in Bath & Body Works by 8.1% during the 2nd quarter. Creative Planning now owns 16,648 shares of the company’s stock worth $650,000 after acquiring an additional 1,254 shares during the period. Scientech Research LLC bought a new stake in Bath & Body Works during the 2nd quarter worth approximately $1,520,000. Shellback Capital LP grew its stake in Bath & Body Works by 242.9% in the 2nd quarter. Shellback Capital LP now owns 240,000 shares of the company’s stock worth $9,372,000 after buying an additional 170,000 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Bath & Body Works by 26.5% in the 2nd quarter. Mackenzie Financial Corp now owns 22,809 shares of the company’s stock worth $891,000 after buying an additional 4,775 shares in the last quarter. 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.