Bath & Body Works, Inc. (NYSE:BBWI) Sees Significant Drop in Short Interest

Bath & Body Works, Inc. (NYSE:BBWI) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 9,440,000 shares, a drop of 9.3% from the October 15th total of 10,410,000 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average daily volume of 5,830,000 shares, the days-to-cover ratio is currently 1.6 days.

Insider Activity at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bath & Body Works

A number of institutional investors and hedge funds have recently made changes to their positions in BBWI. First Community Trust NA purchased a new position in Bath & Body Works during the second quarter worth about $30,000. True Wealth Design LLC lifted its position in Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after acquiring an additional 1,054 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Bath & Body Works by 24.2% during the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after buying an additional 331 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in Bath & Body Works by 480.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after purchasing an additional 1,436 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BBWI shares. Deutsche Bank Aktiengesellschaft decreased their target price on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a report on Monday, August 26th. The Goldman Sachs Group lowered their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. UBS Group lowered their target price on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Bank of America lowered their target price on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Robert W. Baird cut their price objective on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and a consensus price target of $42.44.

Bath & Body Works Trading Down 3.3 %

NYSE BBWI traded down $1.04 during mid-day trading on Tuesday, reaching $30.41. 2,527,134 shares of the company’s stock traded hands, compared to its average volume of 3,818,352. The company has a fifty day simple moving average of $30.26 and a 200-day simple moving average of $36.29. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 1.00 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. Equities research analysts forecast that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.63%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.37%.

Bath & Body Works Company Profile

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.