Bath & Body Works (NYSE:BBWI) Given New $47.00 Price Target at Robert W. Baird

Bath & Body Works (NYSE:BBWI) had its price objective upped by Robert W. Baird from $45.00 to $47.00 in a report published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

BBWI has been the topic of a number of other research reports. Barclays upgraded shares of Bath & Body Works from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $34.00 to $43.00 in a report on Monday, February 24th. Telsey Advisory Group reissued an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a research note on Thursday. JPMorgan Chase & Co. raised Bath & Body Works from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $47.00 in a research report on Tuesday, February 18th. Morgan Stanley decreased their price target on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Finally, Cowen restated a “buy” rating on shares of Bath & Body Works in a research note on Thursday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Bath & Body Works Stock Up 1.0 %

NYSE BBWI opened at $36.22 on Friday. Bath & Body Works has a 52 week low of $26.20 and a 52 week high of $52.99. The business has a 50 day moving average price of $37.70 and a 200-day moving average price of $34.12. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 0.92 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. On average, equities research analysts anticipate that Bath & Body Works will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its board has authorized a share buyback plan on Thursday, February 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, February 21st. Bath & Body Works’s dividend payout ratio is 19.51%.

Institutional Investors Weigh In On Bath & Body Works

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

About Bath & Body Works

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.