Bath & Body Works, Inc. (NYSE:BBWI) Sees Significant Growth in Short Interest

Bath & Body Works, Inc. (NYSE:BBWI) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 9,990,000 shares, a growth of 11.9% from the September 15th total of 8,930,000 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average daily volume of 5,370,000 shares, the days-to-cover ratio is currently 1.9 days.

Insider Activity at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the purchase, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bath & Body Works

Several large investors have recently modified their holdings of BBWI. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Bath & Body Works by 28.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after buying an additional 56,764 shares during the period. Russell Investments Group Ltd. boosted its holdings in Bath & Body Works by 46.9% in the 1st quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock valued at $6,572,000 after purchasing an additional 41,995 shares during the period. Vanguard Group Inc. grew its position in shares of Bath & Body Works by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after purchasing an additional 1,102,124 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Bath & Body Works by 968.1% in the first quarter. SG Americas Securities LLC now owns 190,758 shares of the company’s stock worth $9,542,000 after purchasing an additional 172,898 shares during the period. Finally, UniSuper Management Pty Ltd raised its position in shares of Bath & Body Works by 576.9% in the first quarter. UniSuper Management Pty Ltd now owns 22,799 shares of the company’s stock worth $1,140,000 after buying an additional 19,431 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 1.8 %

Shares of NYSE:BBWI traded down $0.59 during midday trading on Thursday, reaching $31.88. The company had a trading volume of 456,553 shares, compared to its average volume of 3,682,915. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99. The company’s 50 day moving average price is $30.91 and its 200 day moving average price is $38.74. The stock has a market cap of $7.12 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.94 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Research analysts forecast that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BBWI shares. UBS Group cut their price target on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. The Goldman Sachs Group reduced their price target on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $50.00 price objective (down from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. Barclays decreased their target price on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Bank of America dropped their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.35.

Bath & Body Works Company Profile

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.