TD Cowen Boosts Bath & Body Works (NYSE:BBWI) Price Target to $42.00

Bath & Body Works (NYSE:BBWI) had its price target upped by TD Cowen from $40.00 to $42.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on BBWI. The Goldman Sachs Group cut their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. BMO Capital Markets reissued an “outperform” rating and set a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. Morgan Stanley decreased their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Wells Fargo & Company increased their target price on shares of Bath & Body Works from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Price Performance

BBWI opened at $36.29 on Tuesday. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99. The stock has a market capitalization of $7.86 billion, a PE ratio of 8.84, a P/E/G ratio of 1.35 and a beta of 1.79. The firm’s fifty day moving average price is $31.05 and its 200 day moving average price is $35.65.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. On average, equities research analysts forecast that Bath & Body Works will post 3.24 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Insider Activity at Bath & Body Works

In related news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

Institutional Trading of Bath & Body Works

A number of hedge funds and other institutional investors have recently made changes to their positions in BBWI. Lone Pine Capital LLC raised its stake in shares of Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after buying an additional 1,547,399 shares in the last quarter. Anomaly Capital Management LP acquired a new position in Bath & Body Works during the second quarter worth about $113,995,000. FMR LLC grew its holdings in Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after acquiring an additional 2,501,828 shares during the period. Sound Shore Management Inc. CT raised its position in Bath & Body Works by 10.0% in the second quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after acquiring an additional 189,889 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Bath & Body Works by 9,023.5% in the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after acquiring an additional 1,683,160 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.