Bath & Body Works (NYSE:BBWI) Shares Gap Up – Still a Buy?

Bath & Body Works, Inc. (NYSE:BBWI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $30.71, but opened at $36.52. Bath & Body Works shares last traded at $37.17, with a volume of 1,255,687 shares trading hands.

Analyst Ratings Changes

BBWI has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research note on Monday. Citigroup reduced their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. UBS Group reduced their price target on 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus price target of $42.25.

Bath & Body Works Price Performance

The stock has a market cap of $7.87 billion, a PE ratio of 9.00, a PEG ratio of 0.98 and a beta of 1.79. The company has a 50 day moving average price of $30.55 and a two-hundred day moving average price of $35.83.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. As a group, equities analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.37%.

Insider Transactions at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were acquired at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the purchase, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 2.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Community Trust NA purchased a new position in shares of Bath & Body Works during the 2nd quarter valued at $30,000. True Wealth Design LLC increased its holdings in Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after acquiring an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after acquiring an additional 900 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works in the 3rd quarter valued at $39,000. Finally, TD Private Client Wealth LLC increased its holdings in Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after acquiring an additional 331 shares during the last quarter. Hedge funds and other 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.