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

Bath & Body Works, Inc. (NYSE:BBWI) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 8,250,000 shares, a decrease of 12.6% from the October 31st total of 9,440,000 shares. Based on an average daily trading volume, of 6,420,000 shares, the short-interest ratio is presently 1.3 days. Currently, 3.8% of the shares of the stock are short sold.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors and hedge funds have recently modified their holdings of the business. First Community Trust NA purchased a new stake in Bath & Body Works during the 2nd quarter valued at about $30,000. True Wealth Design LLC boosted its holdings in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after purchasing an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bath & Body Works in the third quarter valued at approximately $39,000. Finally, TD Private Client Wealth LLC lifted its position in 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 worth $54,000 after buying an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Down 1.6 %

Shares of Bath & Body Works stock traded down $0.61 during midday trading on Tuesday, hitting $36.90. The company had a trading volume of 3,985,492 shares, compared to its average volume of 4,000,406. The company has a fifty day simple moving average of $31.33 and a 200 day simple moving average of $35.30. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.40 and a beta of 1.83. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $0.48 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts expect that Bath & Body Works will post 3.26 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently announced 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. This represents a $0.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Analysts Set New Price Targets

BBWI has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group reduced their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Barclays lifted their target price on shares of Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, November 26th. Morgan Stanley decreased their price target on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

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.