Bath & Body Works (NYSE:BBWI) Shares Gap Up – Should You Buy?

Bath & Body Works, Inc. (NYSE:BBWI)’s share price gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

BBWI has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their price target on 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a research note on Monday. Barclays boosted their price target on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, TD Cowen boosted their price target on shares of Bath & Body Works from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Bath & Body Works Stock Performance

The business has a 50-day moving average of $30.69 and a 200-day moving average of $35.74. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 8.59, a P/E/G ratio of 1.14 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. 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 company 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. The ex-dividend date is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.27%. Bath & Body Works’s payout ratio is presently 19.51%.

Insider Activity at Bath & Body Works

In related news, CEO Gina Boswell bought 6,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average cost of $29.64 per share, with a total value 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. This trade represents a 2.53 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bath & Body Works

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lone Pine Capital LLC grew its stake in shares of Bath & Body Works by 15.8% during the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after purchasing an additional 1,547,399 shares in the last quarter. Anomaly Capital Management LP purchased a new position in shares of Bath & Body Works in the 2nd quarter valued at about $113,995,000. FMR LLC increased its holdings in shares of Bath & Body Works by 17,496.5% in the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after acquiring an additional 2,501,828 shares during the last quarter. Sound Shore Management Inc. CT raised its position in shares of Bath & Body Works by 10.0% during the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after acquiring an additional 189,889 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.