Bath & Body Works (NYSE:BBWI) Announces Quarterly Earnings Results

Bath & Body Works (NYSE:BBWI) released its quarterly earnings data on Wednesday. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03, FiscalAI reports. Bath & Body Works had a net margin of 8.90% and a negative return on equity of 45.60%.

Bath & Body Works Trading Up 0.1%

BBWI stock opened at $17.78 on Wednesday. Bath & Body Works has a 12 month low of $14.27 and a 12 month high of $33.96. The firm has a market capitalization of $3.58 billion, a P/E ratio of 5.64, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. The firm has a 50 day moving average of $18.67 and a 200-day moving average of $20.26.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, June 5th. Bath & Body Works’s dividend payout ratio (DPR) is 25.40%.

Hedge Funds Weigh In On Bath & Body Works

A number of large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Bath & Body Works by 43.6% during the 4th quarter. Invesco Ltd. now owns 652,991 shares of the company’s stock worth $13,112,000 after acquiring an additional 198,324 shares during the last quarter. Corient Private Wealth LLC boosted its position in Bath & Body Works by 475.8% during the 4th quarter. Corient Private Wealth LLC now owns 97,202 shares of the company’s stock valued at $1,952,000 after buying an additional 80,322 shares during the period. Alberta Investment Management Corp purchased a new stake in Bath & Body Works during the 4th quarter valued at $1,135,000. Mercer Global Advisors Inc. ADV boosted its position in Bath & Body Works by 39.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 161,935 shares of the company’s stock valued at $3,252,000 after buying an additional 45,713 shares during the period. Finally, XTX Topco Ltd boosted its position in Bath & Body Works by 65.2% during the 4th quarter. XTX Topco Ltd now owns 80,548 shares of the company’s stock valued at $1,617,000 after buying an additional 31,781 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Citigroup downgraded shares of Bath & Body Works from a “buy” rating to a “neutral” rating and increased their target price for the company from $21.00 to $25.00 in a research report on Tuesday, February 17th. Piper Sandler assumed coverage on Bath & Body Works in a research report on Friday, May 15th. They set a “neutral” rating and a $20.00 price target on the stock. TD Cowen dropped their price target on Bath & Body Works from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Telsey Advisory Group boosted their price target on shares of Bath & Body Works from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bath & Body Works in a research report on Monday, April 20th. Three analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bath & Body Works has a consensus rating of “Hold” and a consensus target price of $21.21.

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.