Bath & Body Works (NYSE:BBWI) Hits New 52-Week Low at $31.97

Shares of Bath & Body Works, Inc. (NYSE:BBWIGet Rating) reached a new 52-week low during trading on Thursday . The stock traded as low as $31.97 and last traded at $32.08, with a volume of 71954 shares traded. The stock had previously closed at $34.00.

Several analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Bath & Body Works from $83.00 to $65.00 in a research note on Thursday, May 19th. Citigroup reduced their price objective on shares of Bath & Body Works from $87.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, May 23rd. Robert W. Baird reduced their price objective on shares of Bath & Body Works from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. Morgan Stanley cut their target price on shares of Bath & Body Works from $95.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, May 20th. Finally, The Goldman Sachs Group cut their target price on shares of Bath & Body Works from $85.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.47.

The business’s fifty day moving average is $45.97 and its 200-day moving average is $54.09. The stock has a market capitalization of $7.34 billion, a PE ratio of 7.41, a P/E/G ratio of 1.02 and a beta of 1.58.

Bath & Body Works (NYSE:BBWIGet Rating) last released its earnings results on Wednesday, May 18th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Bath & Body Works had a net margin of 15.41% and a negative return on equity of 69.03%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. As a group, sell-side analysts forecast that Bath & Body Works, Inc. will post 4.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Friday, June 3rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.49%. Bath & Body Works’s payout ratio is 17.43%.

In other Bath & Body Works news, CFO Wendy C. Arlin sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $55.00, for a total transaction of $330,000.00. Following the completion of the sale, the chief financial officer now directly owns 98,888 shares in the company, valued at $5,438,840. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas E. Mazurek sold 16,338 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $42.25, for a total transaction of $690,280.50. Following the sale, the insider now owns 11,225 shares of the company’s stock, valued at $474,256.25. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc acquired a new position in shares of Bath & Body Works during the first quarter worth $25,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Bath & Body Works by 119.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 525 shares of the company’s stock worth $26,000 after purchasing an additional 286 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Bath & Body Works by 490.9% during the first quarter. EverSource Wealth Advisors LLC now owns 585 shares of the company’s stock worth $28,000 after purchasing an additional 486 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Bath & Body Works during the fourth quarter worth $30,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Bath & Body Works by 361.4% during the first quarter. First Horizon Advisors Inc. now owns 646 shares of the company’s stock worth $31,000 after purchasing an additional 506 shares in the last quarter. Institutional investors own 97.11% of the company’s stock.

Bath & Body Works Company Profile (NYSE:BBWI)

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.

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