Investors Purchase Large Volume of Put Options on Bath & Body Works (NYSE:BBWI)

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

Hedge Funds Weigh In On Bath & Body Works

Several institutional investors and hedge funds have recently bought and sold shares of BBWI. First Community Trust NA acquired a new stake in Bath & Body Works during the second quarter worth about $30,000. EverSource Wealth Advisors LLC grew its stake in Bath & Body Works by 72.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after buying an additional 337 shares during the period. GAMMA Investing LLC grew its stake in shares of Bath & Body Works by 75.7% in the first quarter. GAMMA Investing LLC now owns 1,116 shares of the company’s stock valued at $56,000 after buying an additional 481 shares in the last quarter. TFO Wealth Partners LLC boosted its position in Bath & Body Works by 9,664.7% in the 4th quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock valued at $72,000 after buying an additional 1,643 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Bath & Body Works by 289.4% in the 4th quarter. Quarry LP now owns 1,690 shares of the company’s stock valued at $73,000 after buying an additional 1,256 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Price Performance

NYSE:BBWI traded up $1.70 during mid-day trading on Monday, reaching $28.91. The company’s stock had a trading volume of 3,572,878 shares, compared to its average volume of 3,309,798. The stock has a market cap of $6.45 billion, a P/E ratio of 7.44, a P/E/G ratio of 0.86 and a beta of 1.77. The company’s fifty day simple moving average is $33.36 and its two-hundred day simple moving average is $41.29. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.20 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.77%. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. The Goldman Sachs Group decreased their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a report on Wednesday, August 28th. Evercore ISI decreased their price target on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

About Bath & Body Works

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.