Bath & Body Works (NYSE:BBWI) Trading 3.9% Higher

Shares of Bath & Body Works, Inc. (NYSE:BBWI) traded up 3.9% during trading on Monday . The stock traded as high as $28.50 and last traded at $28.28. 360,162 shares were traded during mid-day trading, a decline of 89% from the average session volume of 3,291,749 shares. The stock had previously closed at $27.21.

Wall Street Analyst Weigh In

Several analysts have weighed in on BBWI shares. The Goldman Sachs Group dropped their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. JPMorgan Chase & Co. dropped their price objective on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Morgan Stanley reduced their target price on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Piper Sandler cut their price objective on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Bath & Body Works Price Performance

The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 0.86 and a beta of 1.77. The firm’s fifty day moving average price is $33.36 and its 200-day moving average price is $41.29.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a $0.20 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.80 annualized dividend and a yield of 2.77%. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Institutional Trading of Bath & Body Works

Several hedge funds and other institutional investors have recently made changes to their positions in BBWI. TD Asset Management Inc lifted its position in shares of Bath & Body Works by 3.7% in the 4th quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock worth $42,136,000 after purchasing an additional 35,261 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Bath & Body Works by 28.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after buying an additional 56,764 shares during the period. Russell Investments Group Ltd. boosted its position in Bath & Body Works by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock valued at $6,572,000 after acquiring an additional 41,995 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Bath & Body Works during the 4th quarter worth about $1,618,000. Finally, Vanguard Group Inc. raised its position in shares of Bath & Body Works by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after acquiring an additional 1,102,124 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

About Bath & Body Works

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.