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 payment by an average of 38.7% annually over the last three years. Bath & Body Works has a payout ratio of 22.3% meaning 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 Down 5.5 %

Shares of NYSE:BBWI traded down $1.75 during trading on Friday, reaching $30.00. 9,932,695 shares of the company traded hands, compared to its average volume of 4,421,947. The firm has a fifty day simple moving average of $30.01 and a 200 day simple moving average of $36.99. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99. The firm 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. As a group, research analysts anticipate that Bath & Body Works will post 3.18 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BBWI shares. Deutsche Bank Aktiengesellschaft lowered their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Morgan Stanley decreased 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 report on Thursday, September 5th. 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. Robert W. Baird reduced their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, Raymond James lowered their target price on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. One 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’s stock. According to data from MarketBeat, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average price target of $42.44.

Insiders Place Their Bets

In related news, CEO Gina Boswell acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.