Bath & Body Works (NYSE:BBWI) Sees Unusually-High Trading Volume After Dividend Announcement

Bath & Body Works, Inc. (NYSE:BBWI) shares saw unusually-strong trading volume on Monday following a dividend announcement from the company. Approximately 9,391,517 shares traded hands during trading, an increase of 146% from the previous session’s volume of 3,811,113 shares.The stock last traded at $31.58 and had previously closed at $30.00.

The newly announced dividend which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.20 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.54%. Bath & Body Works’s payout ratio is presently 19.37%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BBWI shares. BMO Capital Markets restated an “outperform” rating and issued a $50.00 target price (down from $52.00) on shares of Bath & Body Works 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 research note on Thursday, August 29th. Wells Fargo & Company reduced their price target on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. UBS Group reduced their price target on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group reduced their price target 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average target price of $42.44.

Bath & Body Works Trading Up 5.0 %

The business has a fifty day moving average price of $30.02 and a 200-day moving average price of $36.77. The stock has a market capitalization of $6.90 billion, a PE ratio of 7.63, a PEG ratio of 0.95 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.54 billion. On average, equities analysts anticipate that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Insider Transactions at Bath & Body Works

In related news, CEO Gina Boswell bought 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in shares of Bath & Body Works in the 3rd quarter valued at about $735,000. Anthracite Investment Company Inc. bought a new position in Bath & Body Works during the 3rd quarter valued at approximately $2,921,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Bath & Body Works during the 3rd quarter valued at approximately $7,371,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Bath & Body Works during the 3rd quarter valued at approximately $309,000. Finally, Banque Cantonale Vaudoise raised its position in Bath & Body Works by 46.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 9,108 shares of the company’s stock valued at $291,000 after purchasing an additional 2,902 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

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.