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

Bath & Body Works, Inc. (NYSE:BBWI) declared a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Investors of record on Friday, November 22nd will be paid a dividend of 0.20 per share on Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 22nd.

Bath & Body Works has raised its dividend by an average of 38.7% annually over the last three years. Bath & Body Works has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bath & Body Works to earn $3.62 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 22.1%.

Bath & Body Works Stock Performance

BBWI traded down $1.75 during trading on Friday, reaching $30.00. 9,932,695 shares of the stock were exchanged, compared to its average volume of 4,421,947. The stock’s 50 day moving average price is $30.01 and its two-hundred day moving average price is $36.99. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99. The stock has a market cap of $6.57 billion, a P/E ratio of 7.26, a price-to-earnings-growth ratio of 1.01 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Equities research analysts predict that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BBWI. Wells Fargo & Company cut their price objective on shares of Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday. Robert W. Baird reduced their target price 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. Raymond James lowered their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Morgan Stanley reduced their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, Barclays downgraded shares of Bath & Body Works from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $31.00 to $28.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.44.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

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.