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

Bath & Body Works (NYSE:BBWI) posted its quarterly earnings data on Wednesday. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 Stock Performance

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

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a dividend of $0.20 per share. 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 presently 25.40%.

Analyst Ratings Changes

Several research firms have recently issued reports on BBWI. Citigroup cut shares of Bath & Body Works from a “buy” rating to a “neutral” rating and increased their price objective for the company from $21.00 to $25.00 in a report on Tuesday, February 17th. Piper Sandler initiated 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 for the company. UBS Group reduced their target price on shares of Bath & Body Works from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, May 20th. TD Cowen reduced their target price on shares of Bath & Body Works from $26.00 to $20.00 and set a “buy” rating for the company in a report on Monday, May 18th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.21.

Hedge Funds Weigh In On Bath & Body Works

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in Bath & Body Works by 42.6% in the 4th quarter. Parallel Advisors LLC now owns 1,897 shares of the company’s stock worth $38,000 after purchasing an additional 567 shares during the period. Meeder Asset Management Inc. boosted its stake in Bath & Body Works by 28.5% in the 4th quarter. Meeder Asset Management Inc. now owns 2,874 shares of the company’s stock worth $58,000 after purchasing an additional 637 shares during the period. State of Wyoming boosted its stake in Bath & Body Works by 6.2% in the 2nd quarter. State of Wyoming now owns 11,294 shares of the company’s stock worth $338,000 after purchasing an additional 661 shares during the period. Vident Advisory LLC boosted its stake in Bath & Body Works by 2.8% in the 2nd quarter. Vident Advisory LLC now owns 25,229 shares of the company’s stock worth $756,000 after purchasing an additional 692 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Bath & Body Works by 217.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock worth $35,000 after purchasing an additional 801 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.