Bath & Body Works Sees Unusually High Options Volume (NYSE:BBWI)

Bath & Body Works, Inc. (NYSE:BBWI) was the recipient of unusually large options trading on Monday. Stock investors bought 37,996 put options on the stock. This represents an increase of 549% compared to the typical volume of 5,859 put options.

Bath & Body Works Stock Up 6.2 %

NYSE:BBWI opened at $28.91 on Tuesday. The company has a market cap of $6.45 billion, a P/E ratio of 7.45, a P/E/G ratio of 0.86 and a beta of 1.77. The firm’s 50 day moving average is $33.18 and its two-hundred day moving average is $41.17. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.77%. Bath & Body Works’s dividend payout ratio (DPR) is 20.62%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BBWI shares. Raymond James dropped their target price on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. The Goldman Sachs Group reduced their target price on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Robert W. Baird cut their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Morgan Stanley decreased their price objective on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Finally, Evercore ISI dropped their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Anomaly Capital Management LP purchased a new position in shares of Bath & Body Works in the second quarter valued at $113,995,000. Norges Bank bought a new stake in shares of Bath & Body Works in the 4th quarter worth about $101,669,000. Lone Pine Capital LLC raised its stake in shares of Bath & Body Works by 20.0% in the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock valued at $450,973,000 after purchasing an additional 1,742,471 shares in the last quarter. Cadian Capital Management LP acquired a new position in Bath & Body Works in the fourth quarter worth about $58,266,000. Finally, Vanguard Group Inc. increased its holdings in Bath & Body Works by 4.2% in the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after buying an additional 1,102,124 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.