Bath & Body Works, Inc. (NYSE:BBWI – Get Free Report) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 9,990,000 shares, a growth of 11.9% from the September 15th total of 8,930,000 shares. Based on an average trading volume of 5,370,000 shares, the short-interest ratio is currently 1.9 days. Currently, 4.6% of the shares of the company are sold short.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $50.00 price objective (down previously from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. Raymond James cut their price target on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. UBS Group cut their price target on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America cut their price target on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Citigroup cut their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Bath & Body Works presently has an average rating of “Moderate Buy” and an average price target of $42.35.
Insider Buying and Selling
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Anomaly Capital Management LP acquired a new position in Bath & Body Works in the second quarter valued at approximately $113,995,000. Lone Pine Capital LLC lifted its holdings in Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after acquiring an additional 1,547,399 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Bath & Body Works by 4.2% in the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after acquiring an additional 1,102,124 shares during the last quarter. Interval Partners LP lifted its holdings in Bath & Body Works by 230.0% in the second quarter. Interval Partners LP now owns 1,280,593 shares of the company’s stock valued at $50,007,000 after acquiring an additional 892,488 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in Bath & Body Works in the second quarter valued at approximately $25,867,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.
Bath & Body Works Stock Up 0.3 %
Shares of Bath & Body Works stock traded up $0.08 on Tuesday, hitting $31.11. 3,133,145 shares of the company were exchanged, compared to its average volume of 3,696,730. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 0.94 and a beta of 1.77. The company has a 50-day moving average price of $30.87 and a 200 day moving average price of $38.78. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99.
Bath & Body Works (NYSE:BBWI – Get Free Report) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. Research analysts forecast that Bath & Body Works will post 3.18 EPS for the current year.
Bath & Body Works Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is currently 20.62%.
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.
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