Citigroup Trims Bath & Body Works (NYSE:BBWI) Target Price to $54.00

Bath & Body Works (NYSE:BBWIGet Rating) had its target price decreased by Citigroup from $87.00 to $54.00 in a research report sent to investors on Monday morning, The Fly reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the company. Barclays dropped their price target on Bath & Body Works from $53.00 to $40.00 and set an equal weight rating on the stock in a research report on Friday, May 20th. Credit Suisse Group dropped their target price on Bath & Body Works from $64.00 to $49.00 and set a neutral rating on the stock in a research report on Thursday, May 19th. Morgan Stanley dropped their target price on Bath & Body Works from $95.00 to $64.00 and set an overweight rating on the stock in a research report on Friday, May 20th. Deutsche Bank Aktiengesellschaft dropped their target price on Bath & Body Works from $78.00 to $61.00 in a research report on Thursday, May 19th. Finally, The Goldman Sachs Group dropped their target price on Bath & Body Works from $85.00 to $61.00 and set a buy rating on the stock in a research report on Friday, May 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $66.20.

NYSE BBWI opened at $39.30 on Monday. The firm has a market cap of $9.37 billion, a P/E ratio of 8.56, a P/E/G ratio of 1.11 and a beta of 1.56. The stock’s 50-day moving average is $49.57 and its 200-day moving average is $58.13. Bath & Body Works has a one year low of $35.46 and a one year high of $82.00.

Bath & Body Works (NYSE:BBWIGet Rating) last released its quarterly earnings results on Wednesday, May 18th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.11. Bath & Body Works had a negative return on equity of 83.19% and a net margin of 15.41%. As a group, analysts anticipate that Bath & Body Works will post 3.9 EPS for the current fiscal year.

In other news, CFO Wendy C. Arlin sold 6,000 shares of Bath & Body Works stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $55.00, for a total transaction of $330,000.00. Following the completion of the transaction, the chief financial officer now directly owns 98,888 shares in the company, valued at approximately $5,438,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lone Pine Capital LLC bought a new stake in Bath & Body Works in the 3rd quarter valued at $1,531,646,000. State Street Corp boosted its stake in Bath & Body Works by 3.8% in the 4th quarter. State Street Corp now owns 11,173,734 shares of the company’s stock valued at $779,815,000 after purchasing an additional 412,656 shares during the period. Steadfast Capital Management LP bought a new stake in Bath & Body Works in the 3rd quarter valued at $468,997,000. Primecap Management Co. CA bought a new stake in Bath & Body Works in the 3rd quarter valued at $382,655,000. Finally, Geode Capital Management LLC boosted its stake in Bath & Body Works by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,966,256 shares of the company’s stock valued at $345,713,000 after purchasing an additional 91,300 shares during the period. Institutional investors and hedge funds own 97.11% of the company’s stock.

About Bath & Body Works (Get Rating)

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.

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