Posted by admin on Jun 23rd, 2022
Bowling Portfolio Management LLC decreased its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 79.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,235 shares of the company’s stock after selling 16,133 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Bath & Body Works were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in Bath & Body Works by 3.8% during the fourth quarter. State Street Corp now owns 11,173,734 shares of the company’s stock valued at $779,815,000 after purchasing an additional 412,656 shares during the last quarter. Geode Capital Management LLC boosted its position in Bath & Body Works by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,966,256 shares of the company’s stock valued at $345,713,000 after purchasing an additional 91,300 shares during the last quarter. Northern Trust Corp boosted its position in Bath & Body Works by 5.3% during the fourth quarter. Northern Trust Corp now owns 3,022,119 shares of the company’s stock valued at $210,914,000 after purchasing an additional 152,431 shares during the last quarter. Norges Bank acquired a new stake in Bath & Body Works during the fourth quarter valued at $174,496,000. Finally, Bank of New York Mellon Corp acquired a new stake in Bath & Body Works during the third quarter valued at $124,702,000. Institutional investors and hedge funds own 97.11% of the company’s stock.
In other news, insider Thomas E. Mazurek sold 16,338 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $42.25, for a total value of $690,280.50. Following the sale, the insider now directly owns 11,225 shares in the company, valued at approximately $474,256.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Wendy C. Arlin sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $55.00, for a total value of $330,000.00. Following the completion of the sale, the chief financial officer now owns 98,888 shares in the company, valued at $5,438,840. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
A number of analysts recently issued reports on the company. Credit Suisse Group reduced their price objective on Bath & Body Works from $64.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft reduced their price target on Bath & Body Works from $78.00 to $61.00 in a research report on Thursday, May 19th. Robert W. Baird reduced their price target on Bath & Body Works from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Cowen reduced their price target on Bath & Body Works from $82.00 to $60.00 in a research report on Friday, May 20th. Finally, Citigroup cut their price objective on Bath & Body Works from $87.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average target price of $66.47.
Shares of BBWI opened at $29.91 on Thursday. Bath & Body Works, Inc. has a 12-month low of $29.70 and a 12-month high of $82.00. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 6.52, a P/E/G ratio of 0.91 and a beta of 1.58. The stock’s 50-day moving average price is $44.38 and its 200 day moving average price is $52.62.
Bath & Body Works (NYSE:BBWI – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. Bath & Body Works had a negative return on equity of 69.03% and a net margin of 15.41%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. On average, equities research analysts expect that Bath & Body Works, Inc. will post 4.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, June 2nd. This represents a $0.80 annualized dividend and a yield of 2.67%. Bath & Body Works’s dividend payout ratio is 17.43%.
Bath & Body Works Company Profile (Get Rating)
Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites 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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