Synovus Financial Corp Buys 21,257 Shares of Bath & Body Works, Inc. $BBWI

Key Points

• Synovus Financial Corp has increased its stake in Bath & Body Works by 69.3%, now owning 51,947 shares valued at approximately $1.575 million.
• Bath & Body Works recently reported earnings of $0.49 per share, exceeding analyst expectations, and had a quarterly revenue of $1.40 billion, which was slightly below expectations.
• The company declared a quarterly dividend of $0.20 per share, with an annualized yield of 2.5%, to be paid out on September 5th.

Synovus Financial Corp increased its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 69.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,947 shares of the company's stock after purchasing an additional 21,257 shares during the period. Synovus Financial Corp's holdings in Bath & Body Works were worth $1,575,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BBWI. Mariner LLC increased its position in shares of Bath & Body Works by 14.1% in the fourth quarter. Mariner LLC now owns 23,366 shares of the company's stock worth $906,000 after purchasing an additional 2,887 shares during the period. Marshall Wace LLP bought a new position in shares of Bath & Body Works in the fourth quarter worth $628,000. Dimensional Fund Advisors LP increased its position in shares of Bath & Body Works by 17.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,144,292 shares of the company's stock worth $83,135,000 after purchasing an additional 313,092 shares during the period. MGO One Seven LLC bought a new position in Bath & Body Works in the fourth quarter valued at about $255,000. Finally, Voya Investment Management LLC grew its position in Bath & Body Works by 34.4% in the fourth quarter. Voya Investment Management LLC now owns 39,354 shares of the company's stock valued at $1,526,000 after acquiring an additional 10,080 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Trading Up 0.8%

NYSE:BBWI opened at $31.38 on Wednesday. The stock has a market cap of $6.64 billion, a P/E ratio of 8.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.54. The stock's 50-day moving average is $30.49 and its 200-day moving average is $30.90. Bath & Body Works, Inc. has a 1-year low of $24.94 and a 1-year high of $41.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly 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. The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.42 billion. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%.The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. Bath & Body Works has set its Q2 2025 guidance at 0.330-0.380 EPS. As a group, equities analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 22nd. Bath & Body Works's payout ratio is 21.33%.

Analysts Set New Price Targets

A number of research firms have issued reports on BBWI. UBS Group lifted their target price on Bath & Body Works from $32.00 to $36.00 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Morgan Stanley decreased their target price on Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their target price on Bath & Body Works from $40.00 to $44.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group decreased their target price on Bath & Body Works from $44.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Finally, Piper Sandler set a $39.00 target price on Bath & Body Works and gave the company an "overweight" rating in a research report on Thursday, May 15th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Bath & Body Works currently has a consensus rating of "Moderate Buy" and an average target price of $42.06.

Bath & Body Works Company Profile

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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