Shares of Bath & Body Works, Inc. (NYSE:BBWI - Get Free Report) fell 3.1% during trading on Thursday . The company traded as low as $29.17 and last traded at $29.52. 1,223,327 shares traded hands during trading, a decline of 75% from the average session volume of 4,931,247 shares. The stock had previously closed at $30.48.
Analyst Ratings Changes
Several research firms have recently issued reports on BBWI. JPMorgan Chase & Co. increased their price objective on shares of Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Raymond James decreased their price target on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $38.00 target price (down from $43.00) on shares of Bath & Body Works in a report on Thursday. UBS Group lifted their price target on Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Finally, Robert W. Baird raised their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.00.
Check Out Our Latest Stock Analysis on BBWI
Bath & Body Works Stock Down 5.0%
The stock's 50 day moving average price is $30.07 and its two-hundred day moving average price is $33.97. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 6.51, a P/E/G ratio of 0.92 and a beta of 1.87.
Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $0.38 EPS. The business's revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.
Bath & Body Works Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors 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 3.00%. The ex-dividend date of this dividend is Friday, June 6th. Bath & Body Works's payout ratio is presently 21.33%.
Bath & Body Works announced that its board has initiated a share buyback plan on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Bath & Body Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock worth $1,093,306,000 after purchasing an additional 208,036 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Bath & Body Works by 7.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,016,767 shares of the company's stock worth $334,029,000 after acquiring an additional 781,681 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Bath & Body Works by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company's stock worth $329,317,000 after acquiring an additional 445,887 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Bath & Body Works by 14,732.0% during the 1st quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company's stock valued at $206,119,000 after acquiring an additional 6,752,274 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Bath & Body Works by 4.7% in the 1st quarter. Alliancebernstein L.P. now owns 5,422,058 shares of the company's stock valued at $164,397,000 after acquiring an additional 243,611 shares in the last quarter. 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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