Bath & Body Works, Inc. (NYSE:BBWI - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as $24.94 and last traded at $25.13, with a volume of 5881584 shares traded. The stock had previously closed at $26.11.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Barclays reduced their price target on shares of Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Telsey Advisory Group reissued an "outperform" rating and issued a $38.00 price objective (down previously from $43.00) on shares of Bath & Body Works in a research report on Thursday, May 29th. Cowen reissued a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Finally, Citigroup increased their price objective on shares of Bath & Body Works from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.00.
Check Out Our Latest Stock Report on BBWI
Bath & Body Works Price Performance
The company has a fifty day moving average price of $29.48 and a 200 day moving average price of $33.64. The company has a market capitalization of $5.32 billion, a P/E ratio of 6.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.72.
Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.42 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. On average, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.
Bath & Body Works Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, June 6th. Bath & Body Works's payout ratio is 21.33%.
Bath & Body Works declared that its board has authorized a stock buyback plan on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
Hedge Funds Weigh In On Bath & Body Works
Large investors have recently made changes to their positions in the business. SRS Capital Advisors Inc. grew its position in Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after purchasing an additional 329 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works during the 4th quarter valued at $26,000. Lindbrook Capital LLC grew its holdings in shares of Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock valued at $37,000 after acquiring an additional 431 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Bath & Body Works by 135.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock valued at $39,000 after acquiring an additional 582 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Bath & Body Works in the first quarter worth $35,000. Institutional investors and hedge funds own 95.14% of the company's stock.
About Bath & Body Works
(
Get Free Report)
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.
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