Bath & Body Works (NYSE:BBWI) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Bath & Body Works (NYSE:BBWI) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $43.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Barclays raised their price target on shares of Bath & Body Works from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday. Citigroup reduced their price target on shares of Bath & Body Works from $48.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Piper Sandler set a $39.00 price target on shares of Bath & Body Works and gave the company an “overweight” rating in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Bath & Body Works from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $42.56.

Bath & Body Works Stock Down 0.4%

Shares of Bath & Body Works stock opened at $33.43 on Tuesday. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works has a 12-month low of $24.96 and a 12-month high of $52.99. The firm’s 50-day moving average price is $30.16 and its two-hundred day moving average price is $34.03.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share 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 company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. On average, sell-side analysts expect that Bath & Body Works will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.39%. Bath & Body Works’s dividend payout ratio (DPR) is presently 21.98%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Bath & Body Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock worth $1,093,306,000 after purchasing an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Bath & Body Works by 7.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,016,767 shares of the company’s stock worth $334,029,000 after purchasing an additional 781,681 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Bath & Body Works by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock worth $329,317,000 after purchasing an additional 445,887 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Bath & Body Works by 14,732.0% during the 1st quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company’s stock worth $206,119,000 after purchasing an additional 6,752,274 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Bath & Body Works by 4.7% during the 1st quarter. Alliancebernstein L.P. now owns 5,422,058 shares of the company’s stock worth $164,397,000 after purchasing an additional 243,611 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

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.