Bath & Body Works Target of Unusually High Options Trading (NYSE:BBWI)

Bath & Body Works, Inc. (NYSE:BBWI) saw unusually large options trading activity on Tuesday. Investors purchased 23,399 put options on the company. This represents an increase of approximately 550% compared to the average daily volume of 3,601 put options.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BBWI. Piper Sandler initiated coverage on shares of Bath & Body Works in a research report on Friday, May 15th. They issued a “neutral” rating and a $20.00 price target on the stock. The Goldman Sachs Group downgraded Bath & Body Works from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $23.00 to $19.00 in a research report on Wednesday, July 8th. Jefferies Financial Group upped their target price on Bath & Body Works from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, July 28th. Telsey Advisory Group lowered their target price on Bath & Body Works from $25.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. raised their price target on Bath & Body Works from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Bath & Body Works has an average rating of “Hold” and an average price target of $22.57.

Hedge Funds Weigh In On Bath & Body Works

Several institutional investors and hedge funds have recently bought and sold shares of BBWI. Chase Investment Counsel Corp acquired a new stake in shares of Bath & Body Works in the fourth quarter worth $1,606,000. Bank of America Corp DE lifted its holdings in shares of Bath & Body Works by 26.2% during the 1st quarter. Bank of America Corp DE now owns 2,050,414 shares of the company’s stock valued at $38,281,000 after acquiring an additional 425,248 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Bath & Body Works by 462.6% during the 4th quarter. Intech Investment Management LLC now owns 108,766 shares of the company’s stock valued at $2,184,000 after acquiring an additional 89,432 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Bath & Body Works during the 4th quarter worth $2,053,000. Finally, WINTON GROUP Ltd purchased a new stake in Bath & Body Works during the 4th quarter worth $3,175,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Trading Down 8.3%

Bath & Body Works stock opened at $17.58 on Wednesday. The firm has a market capitalization of $3.54 billion, a P/E ratio of 4.94, a PEG ratio of 1.89 and a beta of 1.38. The stock has a fifty day moving average price of $20.39 and a 200 day moving average price of $20.03. Bath & Body Works has a 52 week low of $14.27 and a 52 week high of $32.32.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Bath & Body Works had a negative return on equity of 45.34% and a net margin of 10.03%.The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $0.49 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Bath & Body Works will post 2.63 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, August 21st. Bath & Body Works’s dividend payout ratio is presently 22.47%.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.