Bath & Body Works (NYSE:BBWI) Given New $42.00 Price Target at The Goldman Sachs Group

Bath & Body Works (NYSE:BBWI) had its price objective reduced by The Goldman Sachs Group from $49.00 to $42.00 in a research note published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Raymond James decreased their target price on shares of Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Telsey Advisory Group reissued an “outperform” rating and set a $43.00 price target on shares of Bath & Body Works in a research note on Thursday, February 27th. Argus reiterated a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Finally, Robert W. Baird lifted their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.69.

Bath & Body Works Stock Performance

Shares of BBWI opened at $28.77 on Tuesday. Bath & Body Works has a 52-week low of $24.96 and a 52-week high of $52.99. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 0.92 and a beta of 1.69. The business’s fifty day moving average is $31.83 and its 200-day moving average is $33.85.

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

Bath & Body Works Announces Dividend

The firm also recently announced 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 was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.78%. Bath & Body Works’s payout ratio is currently 21.98%.

Bath & Body Works declared that its board has initiated a share repurchase program on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Bath & Body Works

Hedge funds have recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC grew its holdings in 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 during the period. SRS Capital Advisors Inc. boosted its position 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 purchasing an additional 329 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Bath & Body Works by 58.8% in 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. Northwest Bank & Trust Co raised its stake in Bath & Body Works by 2.9% during the 4th quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company’s stock worth $533,000 after buying an additional 419 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after acquiring an additional 431 shares in 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.