Bath & Body Works, Inc. (NYSE:BBWI) Sees Significant Decrease in Short Interest

Bath & Body Works, Inc. (NYSE:BBWI) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 9,440,000 shares, a drop of 9.3% from the October 15th total of 10,410,000 shares. Approximately 4.4% of the shares of the company are sold short. Based on an average daily volume of 5,830,000 shares, the days-to-cover ratio is currently 1.6 days.

Bath & Body Works Stock Performance

Shares of BBWI traded down $1.01 during midday trading on Tuesday, hitting $30.44. The company had a trading volume of 3,794,686 shares, compared to its average volume of 3,825,142. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The firm has a market capitalization of $6.67 billion, a P/E ratio of 7.36, a P/E/G ratio of 1.00 and a beta of 1.79. The company’s 50-day simple moving average is $30.26 and its 200-day simple moving average is $36.29.

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

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. Bath & Body Works’s dividend payout ratio 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 stock in a transaction on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Bath & Body Works

A number of institutional investors have recently modified their holdings of BBWI. First Community Trust NA acquired a new position in Bath & Body Works in the 2nd quarter valued at $30,000. True Wealth Design LLC grew its position in Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Bath & Body Works by 300.0% during 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 period. TD Private Client Wealth LLC increased its stake 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 purchasing an additional 331 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Bath & Body Works by 480.3% in the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,436 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BBWI has been the subject of several research analyst reports. Morgan Stanley reduced their price target on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Barclays lowered Bath & Body Works from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $31.00 to $28.00 in a research note on Friday, November 8th. Raymond James dropped their price target on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, UBS Group dropped their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.44.

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.