Traders Buy Large Volume of Call Options on Bath & Body Works (NYSE:BBWI)

Bath & Body Works, Inc. (NYSE:BBWI) was the recipient of some unusual options trading activity on Friday. Investors purchased 9,935 call options on the company. This is an increase of approximately 148% compared to the average daily volume of 4,013 call options.

Hedge Funds Weigh In On Bath & Body Works

A number of large investors have recently modified their holdings of the business. Denali Advisors LLC purchased a new stake in shares of Bath & Body Works during the 4th quarter worth approximately $27,000. GAMMA Investing LLC acquired a new stake in Bath & Body Works in the fourth quarter valued at $27,000. Front Row Advisors LLC acquired a new stake in Bath & Body Works in the third quarter valued at $25,000. Trust Co. of Vermont acquired a new position in shares of Bath & Body Works during the 3rd quarter worth $27,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Bath & Body Works by 72.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after buying an additional 337 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BBWI has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 5th. Evercore ISI upped their price objective on shares of Bath & Body Works from $30.00 to $45.00 and gave the stock an “in-line” rating in a report on Friday, March 1st. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a report on Tuesday, June 4th. Wells Fargo & Company upped their price target on Bath & Body Works from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Finally, TD Cowen lifted their price objective on Bath & Body Works from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.53.

Bath & Body Works Trading Up 0.1 %

Shares of BBWI opened at $39.05 on Friday. The company’s 50 day simple moving average is $45.95 and its 200-day simple moving average is $45.08. The firm has a market cap of $8.72 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.90. Bath & Body Works has a 12-month low of $27.30 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, equities research analysts forecast that Bath & Body Works will post 3.29 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.05%. Bath & Body Works’s payout ratio is currently 20.62%.

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.