Short Interest in Bath & Body Works, Inc. (NYSE:BBWI) Grows By 11.9%

by · The Cerbat Gem

Bath & Body Works, Inc. (NYSE:BBWI – Get Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 9,990,000 shares, an increase of 11.9% from the September 15th total of 8,930,000 shares. Based on an average daily volume of 5,370,000 shares, the short-interest ratio is presently 1.9 days. Currently, 4.6% of the shares of the stock are sold short.

Bath & Body Works Stock Down 1.9 %

Shares of Bath & Body Works stock traded down $0.61 on Thursday, hitting $31.86. 751,330 shares of the company traded hands, compared to its average volume of 3,684,472. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99. The company has a market cap of $7.11 billion, a PE ratio of 8.36, a PEG ratio of 0.94 and a beta of 1.77. The company has a 50-day moving average price of $30.91 and a 200 day moving average price of $38.74.

Bath & Body Works (NYSE:BBWI – Get Free Report) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. Equities research analysts anticipate that Bath & Body Works will post 3.18 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s payout ratio is presently 20.62%.

Insider Buying and Selling

In other news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Bath & Body Works

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Bath & Body Works by 5.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock valued at $279,000 after purchasing an additional 277 shares in the last quarter. Empirical Finance LLC raised its holdings in Bath & Body Works by 3.6% during the first quarter. Empirical Finance LLC now owns 8,097 shares of the company’s stock valued at $405,000 after buying an additional 278 shares in the last quarter. CWM LLC lifted its position in shares of Bath & Body Works by 6.6% in the second quarter. CWM LLC now owns 5,072 shares of the company’s stock worth $198,000 after buying an additional 314 shares during the last quarter. Northwest Bank & Trust Co boosted its stake in shares of Bath & Body Works by 2.5% during the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after acquiring an additional 315 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Bath & Body Works by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after acquiring an additional 322 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on BBWI shares. Piper Sandler decreased their price target on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Citigroup cut their target price on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. BMO Capital Markets reiterated an “outperform” rating and issued a $50.00 price target (down previously from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. Morgan Stanley dropped their price target on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Bath & Body Works presently has an average rating of “Moderate Buy” and an average price target of $42.35.

Check Out Our Latest Report on BBWI

Bath & Body Works Company Profile

(Get Free Report)

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.

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