Bath & Body Works (NYSE:BBWI) Stock Price Down 3.7%

Bath & Body Works, Inc. (NYSE:BBWI) dropped 3.7% during mid-day trading on Thursday . The company traded as low as $29.11 and last traded at $29.11. Approximately 194,751 shares changed hands during trading, a decline of 95% from the average daily volume of 3,666,385 shares. The stock had previously closed at $30.22.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BBWI. JPMorgan Chase & Co. cut their target price on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Raymond James dropped their price target on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Morgan Stanley dropped their price target on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. The Goldman Sachs Group dropped their price target 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. Finally, UBS Group dropped their price target on shares of 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. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.35.

Bath & Body Works Stock Down 2.3 %

The company has a fifty day moving average of $31.54 and a two-hundred day moving average of $39.97. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.96 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last issued its quarterly 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. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors 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 2.71%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds have recently modified their holdings of the stock. Trust Co. of Toledo NA OH lifted its holdings in shares of Bath & Body Works by 7.7% during the third quarter. Trust Co. of Toledo NA OH now owns 12,974 shares of the company’s stock worth $414,000 after purchasing an additional 927 shares during the period. Sanctuary Advisors LLC purchased a new position in Bath & Body Works in the second quarter worth $2,855,000. Quarry LP raised its position in Bath & Body Works by 320.7% in the second quarter. Quarry LP now owns 3,795 shares of the company’s stock worth $148,000 after acquiring an additional 2,893 shares in the last quarter. Creative Planning raised its position in Bath & Body Works by 8.1% in the second quarter. Creative Planning now owns 16,648 shares of the company’s stock worth $650,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Scientech Research LLC purchased a new position in Bath & Body Works in the second quarter worth $1,520,000. 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.