Telsey Advisory Group Boosts Bath & Body Works (NYSE:BBWI) Price Target to $23.00

Bath & Body Works (NYSE:BBWI) had its price target upped by analysts at Telsey Advisory Group from $17.00 to $23.00 in a report issued on Friday, MarketBeat.com reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential downside of 1.37% from the company’s current price.

Several other analysts also recently commented on BBWI. Bank of America set a $26.00 price objective on shares of Bath & Body Works in a research report on Monday, November 24th. Jefferies Financial Group started coverage on Bath & Body Works in a research note on Wednesday, January 14th. They set a “hold” rating and a $24.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $18.00 price objective (down from $43.00) on shares of Bath & Body Works in a report on Friday, November 21st. Wells Fargo & Company dropped their target price on shares of Bath & Body Works from $33.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Finally, Citigroup downgraded shares of Bath & Body Works from a “buy” rating to a “neutral” rating and increased their price objective for the company from $21.00 to $25.00 in a report on Tuesday, February 17th. Three research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bath & Body Works presently has a consensus rating of “Hold” and an average target price of $23.71.

Bath & Body Works Trading Up 2.9%

Bath & Body Works stock opened at $23.32 on Friday. Bath & Body Works has a 12-month low of $14.27 and a 12-month high of $38.28. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 1.00 and a beta of 1.54. The firm has a 50 day moving average of $22.07 and a 200 day moving average of $23.79.

Hedge Funds Weigh In On Bath & Body Works

Several hedge funds have recently added to or reduced their stakes in BBWI. AQR Capital Management LLC boosted its position in shares of Bath & Body Works by 132.5% during the fourth quarter. AQR Capital Management LLC now owns 11,445,928 shares of the company’s stock valued at $229,834,000 after buying an additional 6,523,960 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Bath & Body Works by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 7,080,106 shares of the company’s stock worth $212,120,000 after purchasing an additional 733,000 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Bath & Body Works by 2.2% during the third quarter. Alliancebernstein L.P. now owns 5,861,444 shares of the company’s stock valued at $150,991,000 after purchasing an additional 123,648 shares during the period. Cooper Creek Partners Management LLC increased its stake in Bath & Body Works by 42.7% in the 2nd quarter. Cooper Creek Partners Management LLC now owns 5,409,919 shares of the company’s stock worth $162,081,000 after buying an additional 1,619,276 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Bath & Body Works by 2,204.1% during the 3rd quarter. American Century Companies Inc. now owns 5,174,370 shares of the company’s stock valued at $133,292,000 after buying an additional 4,949,796 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.