Stock Traders Purchase High Volume of Bath & Body Works Put Options (NYSE:BBWI)

Bath & Body Works, Inc. (NYSE:BBWI - Get Free Report) was the recipient of unusually large options trading on Tuesday. Investors acquired 37,402 put options on the company. This is an increase of approximately 504% compared to the typical daily volume of 6,193 put options.

Bath & Body Works Price Performance

NYSE:BBWI traded up $0.92 during mid-day trading on Friday, reaching $28.42. The stock had a trading volume of 4,852,461 shares, compared to its average volume of 4,745,971. Bath & Body Works has a 12 month low of $24.96 and a 12 month high of $52.99. The stock has a market capitalization of $6.09 billion, a PE ratio of 6.93, a P/E/G ratio of 0.92 and a beta of 1.69. The stock has a 50-day simple moving average of $32.15 and a two-hundred day simple moving average of $33.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Equities analysts expect that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.81%. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Bath & Body Works announced that its board has authorized a stock buyback plan on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits 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 leadership believes its stock is undervalued.

Analyst Ratings Changes

BBWI has been the subject of a number of recent analyst reports. Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their price target on Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $42.00 to $48.00 in a report on Friday, January 10th. Citigroup cut their target price on shares of Bath & Body Works from $48.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Raymond James reduced their target price on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.13.

Institutional Investors Weigh In On Bath & Body Works

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. grew its holdings in shares of Bath & Body Works by 12.7% during the first quarter. QRG Capital Management Inc. now owns 61,378 shares of the company's stock worth $1,861,000 after purchasing an additional 6,905 shares during the last quarter. Trust Co. of Toledo NA OH grew its holdings in Bath & Body Works by 10.8% during the 1st quarter. Trust Co. of Toledo NA OH now owns 15,861 shares of the company's stock worth $481,000 after acquiring an additional 1,548 shares during the last quarter. Missouri Trust & Investment Co increased its position in Bath & Body Works by 6.6% in the 1st quarter. Missouri Trust & Investment Co now owns 42,200 shares of the company's stock valued at $1,280,000 after acquiring an additional 2,630 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Bath & Body Works by 38.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,711 shares of the company's stock valued at $1,265,000 after acquiring an additional 11,681 shares during the last quarter. Finally, Bard Financial Services Inc. lifted its holdings in shares of Bath & Body Works by 5.0% during the first quarter. Bard Financial Services Inc. now owns 28,100 shares of the company's stock worth $852,000 after purchasing an additional 1,350 shares during the period. Institutional investors own 95.14% of the company's stock.

About Bath & Body Works

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.