Bath & Body Works (NYSE:BBWI) Sees Large Volume Increase

Shares of Bath & Body Works, Inc. (NYSE:BBWI) saw unusually-strong trading volume on Thursday . Approximately 3,012,112 shares were traded during mid-day trading, a decline of 5% from the previous session’s volume of 3,169,779 shares.The stock last traded at $29.92 and had previously closed at $29.51.

Analysts Set New Price Targets

Several research firms recently commented on BBWI. Morgan Stanley dropped their price objective on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays dropped their price target on Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. reduced their price objective on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Piper Sandler lowered their price objective on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group cut their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Bath & Body Works Stock Performance

The business’s fifty day moving average price is $34.42 and its 200-day moving average price is $42.07. The stock has a market cap of $6.38 billion, a PE ratio of 7.37, a P/E/G ratio of 1.04 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. Analysts forecast that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors have recently made changes to their positions in the business. First Community Trust NA bought a new stake in Bath & Body Works during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its position in shares of Bath & Body Works by 72.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after acquiring an additional 337 shares during the period. GAMMA Investing LLC increased its stake in shares of Bath & Body Works by 75.7% in the 1st quarter. GAMMA Investing LLC now owns 1,116 shares of the company’s stock worth $56,000 after purchasing an additional 481 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of Bath & Body Works by 9,664.7% in the 4th quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock worth $72,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Quarry LP raised its holdings in Bath & Body Works by 289.4% in the 4th quarter. Quarry LP now owns 1,690 shares of the company’s stock worth $73,000 after purchasing an additional 1,256 shares during the period. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Company Profile

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