Bath & Body Works (NYSE:BBWI) Sees Unusually-High Trading Volume Following Earnings Beat

Bath & Body Works, Inc. (NYSE:BBWI) shares saw unusually-high trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 1,957,342 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 3,037,604 shares.The stock last traded at $33.07 and had previously closed at $34.72.

The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.58%. Bath & Body Works’s dividend payout ratio is currently 20.62%.

Analyst Ratings Changes

A number of equities analysts have issued reports on BBWI shares. Bank of America decreased their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company cut their price target on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a report on Monday. The Goldman Sachs Group reduced their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays lowered their target price on Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Hedge Funds Weigh In On Bath & Body Works

A number of hedge funds have recently added to or reduced their stakes in BBWI. GAMMA Investing LLC bought a new stake in shares of Bath & Body Works in the fourth quarter worth approximately $27,000. First Community Trust NA bought a new stake in shares of Bath & Body Works in the second quarter worth $30,000. EverSource Wealth Advisors LLC grew its stake in shares of Bath & Body Works by 72.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after purchasing an additional 337 shares during the period. EntryPoint Capital LLC increased its position in shares of Bath & Body Works by 224.0% during the 1st quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Bath & Body Works by 17.1% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock worth $70,000 after purchasing an additional 235 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

The company’s 50-day simple moving average is $35.68 and its two-hundred day simple moving average is $42.68. The firm has a market capitalization of $6.92 billion, a P/E ratio of 7.99, a P/E/G ratio of 1.16 and a beta of 1.85.

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.