Bath & Body Works (NYSE:BBWI) Price Target Lowered to $36.00 at Citigroup

Bath & Body Works (NYSE:BBWI) had its price target lowered by Citigroup from $48.00 to $36.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird increased their price objective on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Argus reaffirmed a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Cowen restated a “buy” rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Piper Sandler increased their price target on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. set a $47.00 price objective on shares of Bath & Body Works in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.06.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $30.06 on Monday. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. Bath & Body Works has a 12 month low of $24.96 and a 12 month high of $52.99. The business has a 50-day moving average of $33.44 and a 200 day moving average of $34.03.

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

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Bath & Body Works announced that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Bath & Body Works

Institutional investors have recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC lifted its position in shares of Bath & Body Works by 4.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company’s stock worth $271,000 after purchasing an additional 324 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after buying an additional 329 shares during the period. TD Private Client Wealth LLC lifted its position in Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after buying an additional 331 shares in the last quarter. UMB Bank n.a. boosted 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 valued at $35,000 after buying an additional 335 shares during the period. Finally, Northwest Bank & Trust Co grew its holdings in shares of Bath & Body Works by 2.9% during the 4th quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company’s stock valued at $533,000 after acquiring an additional 419 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.