Share Repurchase Program Authorized by Bath & Body Works (NYSE:BBWI) Board of Directors

Bath & Body Works (NYSE:BBWI - Get Free Report) declared that its Board of Directors has approved a share buyback plan on Thursday, February 27th, RTT News reports. The company plans to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBWI. Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a report on Thursday. Morgan Stanley lowered their price objective on Bath & Body Works from $51.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, November 21st. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $40.00 to $48.00 in a research report on Friday. Telsey Advisory Group reaffirmed an "outperform" rating and set a $43.00 price target on shares of Bath & Body Works in a research note on Thursday. Finally, Raymond James reissued an "outperform" rating and issued a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.06.

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Bath & Body Works Trading Down 2.3 %

BBWI stock traded down $0.85 during mid-day trading on Monday, reaching $35.38. The company's stock had a trading volume of 6,003,103 shares, compared to its average volume of 3,814,609. Bath & Body Works has a 12 month low of $26.20 and a 12 month high of $52.99. The business's 50 day moving average price is $37.70 and its 200 day moving average price is $34.15. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 0.92 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, equities analysts expect that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.26%. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America's Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.