Stock Traders Buy Large Volume of Call Options on Bath & Body Works (NYSE:BBWI)

Bath & Body Works, Inc. (NYSE:BBWI) was the recipient of unusually large options trading on Friday. Stock investors acquired 9,935 call options on the company. This is an increase of approximately 148% compared to the typical daily volume of 4,013 call options.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $39.05 on Friday. The company has a 50 day moving average price of $45.95 and a two-hundred day moving average price of $45.12. The company has a market capitalization of $8.72 billion, a PE ratio of 10.06, a PEG ratio of 1.29 and a beta of 1.90. Bath & Body Works has a 52 week low of $27.30 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. Bath & Body Works’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, sell-side analysts forecast that Bath & Body Works will post 3.29 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, June 7th. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bath & Body Works from $53.00 to $57.00 in a research note on Monday, June 3rd. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $40.00 to $53.00 in a research note on Friday, May 17th. UBS Group lifted their target price on shares of Bath & Body Works from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. The Goldman Sachs Group boosted their target price on Bath & Body Works from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, BMO Capital Markets raised their price target on Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 5th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.53.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Bath & Body Works in the 4th quarter worth about $101,669,000. Darsana Capital Partners LP bought a new stake in shares of Bath & Body Works during the 3rd quarter valued at approximately $76,050,000. Lone Pine Capital LLC grew its holdings in shares of Bath & Body Works by 20.0% during the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock valued at $450,973,000 after purchasing an additional 1,742,471 shares during the last quarter. Sound Shore Management Inc. CT boosted its position in Bath & Body Works by 379.2% in the fourth quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock valued at $82,145,000 after buying an additional 1,506,110 shares in the last quarter. Finally, Cadian Capital Management LP acquired a new position in shares of Bath & Body Works during the fourth quarter worth $58,266,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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.