Bath & Body Works (NYSE:BBWI) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bath & Body Works (NYSE:BBWI) from a neutral rating to an overweight rating in a research note published on Tuesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $47.00 target price on the stock, up from their prior target price of $41.00.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley dropped their price target on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Wells Fargo & Company upgraded shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Piper Sandler raised their price target on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, TD Cowen boosted their price target on Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average price target of $43.63.

Bath & Body Works Stock Performance

BBWI opened at $40.33 on Tuesday. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99. The firm has a market cap of $8.73 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.96 and a beta of 1.83. The firm’s fifty day moving average is $37.70 and its two-hundred day moving average is $33.81.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts forecast that Bath & Body Works will post 3.26 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. Bath & Body Works’s payout ratio is 19.51%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BBWI. SRS Capital Advisors Inc. raised its holdings in shares of Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after acquiring an additional 329 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Bath & Body Works in the 4th quarter valued at about $26,000. UMB Bank n.a. raised its stake in Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after acquiring an additional 335 shares in the last quarter. Lindbrook Capital LLC increased its position in Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after buying an additional 431 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Bath & Body Works by 135.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock worth $39,000 after purchasing an additional 582 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.