Bath & Body Works (NYSE:BBWI) Posts Earnings Results, Beats Expectations By $0.03 EPS

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

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $17.78 on Wednesday. The company has a 50 day simple moving average of $18.67 and a 200 day simple moving average of $20.26. The firm has a market cap of $3.58 billion, a PE ratio of 5.64, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. Bath & Body Works has a 1 year low of $14.27 and a 1 year high of $33.96.

Bath & Body Works Announces Dividend

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

Institutional Trading of Bath & Body Works

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Bath & Body Works by 43.6% in the fourth quarter. Invesco Ltd. now owns 652,991 shares of the company’s stock valued at $13,112,000 after acquiring an additional 198,324 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Bath & Body Works by 475.8% in the fourth quarter. Corient Private Wealth LLC now owns 97,202 shares of the company’s stock worth $1,952,000 after purchasing an additional 80,322 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in Bath & Body Works in the fourth quarter worth $1,135,000. Mercer Global Advisors Inc. ADV grew its holdings in Bath & Body Works by 39.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 161,935 shares of the company’s stock worth $3,252,000 after purchasing an additional 45,713 shares during the period. Finally, XTX Topco Ltd grew its holdings in Bath & Body Works by 65.2% in the fourth quarter. XTX Topco Ltd now owns 80,548 shares of the company’s stock worth $1,617,000 after purchasing an additional 31,781 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BBWI shares. TD Cowen dropped their target price on Bath & Body Works from $26.00 to $20.00 and set a “buy” rating for the company in a report on Monday, May 18th. Piper Sandler started coverage on shares of Bath & Body Works in a report on Friday, May 15th. They set a “neutral” rating and a $20.00 target price on the stock. UBS Group lowered their target price on shares of Bath & Body Works from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, May 20th. Barclays raised their target price on shares of Bath & Body Works from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Bath & Body Works from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, Bath & Body Works has an average rating of “Hold” and an average target price of $21.21.

Bath & Body Works Company Profile

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.