Bath & Body Works, Inc. (NYSE:BBWI) Plans $0.20 Quarterly Dividend

Bath & Body Works, Inc. (NYSE:BBWIGet Free Report) announced a quarterly dividend on Friday, May 17th, NASDAQ reports. Shareholders of record on Friday, June 7th will be paid a dividend of 0.20 per share on Friday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, June 7th.

Bath & Body Works has increased its dividend by an average of 38.7% per year over the last three years. Bath & Body Works has a dividend payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bath & Body Works to earn $3.74 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 21.4%.

Bath & Body Works Price Performance

Shares of BBWI stock opened at $50.16 on Friday. Bath & Body Works has a 1-year low of $27.30 and a 1-year high of $50.45. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.62 and a beta of 1.89. The stock has a 50 day simple moving average of $46.59 and a 200-day simple moving average of $42.40.

Bath & Body Works (NYSE:BBWIGet Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.85 by $0.21. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. Analysts anticipate that Bath & Body Works will post 3.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Thomas E. Mazurek sold 4,285 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total transaction of $209,493.65. Following the completion of the sale, the insider now directly owns 45,992 shares of the company’s stock, valued at approximately $2,248,548.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on BBWI shares. BMO Capital Markets boosted their price target on Bath & Body Works from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 target price on shares of Bath & Body Works in a report on Friday, April 5th. Evercore ISI raised their price target on shares of Bath & Body Works from $30.00 to $45.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. Piper Sandler upped their price objective on shares of Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Finally, TD Cowen increased their price objective on shares of Bath & Body Works from $35.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Bath & Body Works presently has an average rating of “Hold” and an average price target of $48.47.

Check Out Our Latest Analysis on BBWI

About Bath & Body Works

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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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Dividend History for Bath & Body Works (NYSE:BBWI)

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