Bath & Body Works, Inc. (BBWI) to Issue Quarterly Dividend of $0.20 on June 21st

Bath & Body Works, Inc. (NYSE:BBWIGet Free Report) announced a quarterly dividend on Friday, May 17th, NASDAQ reports. Shareholders of record on Friday, June 7th will be paid a dividend of 0.20 per share on Friday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, June 7th.

Bath & Body Works has increased its dividend by an average of 38.7% per year over the last three years. Bath & Body Works has a dividend payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bath & Body Works to earn $3.74 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 21.4%.

Bath & Body Works Price Performance

BBWI stock opened at $50.16 on Friday. The stock has a market capitalization of $11.22 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.62 and a beta of 1.89. Bath & Body Works has a 1-year low of $27.30 and a 1-year high of $50.45. The business has a fifty day moving average price of $46.59 and a 200-day moving average price of $42.40.

Bath & Body Works (NYSE:BBWIGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.85 by $0.21. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. Bath & Body Works had a negative return on equity of 37.01% and a net margin of 11.82%. Bath & Body Works’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned $1.86 EPS. As a group, analysts anticipate that Bath & Body Works will post 3.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BBWI. Evercore ISI raised their price objective on Bath & Body Works from $30.00 to $45.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. Piper Sandler raised their target price on shares of Bath & Body Works from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Wells Fargo & Company lifted their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 price objective on shares of Bath & Body Works in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $40.00 to $53.00 in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.47.

Get Our Latest Stock Report on BBWI

Insider Activity

In related news, insider Thomas E. Mazurek sold 4,285 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total value of $209,493.65. Following the sale, the insider now directly owns 45,992 shares in the company, valued at $2,248,548.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

Bath & Body Works Company Profile

(Get Free Report)

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.

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Dividend History for Bath & Body Works (NYSE:BBWI)

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