Posted by admin on Jun 23rd, 2022
New Mexico Educational Retirement Board trimmed its position in Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 7.4% in the first quarter, Holdings Channel.com reports. The firm owned 15,006 shares of the company’s stock after selling 1,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Bath & Body Works were worth $717,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec bought a new position in Bath & Body Works during the fourth quarter worth about $1,431,000. Exchange Traded Concepts LLC bought a new position in shares of Bath & Body Works during the 4th quarter valued at about $3,058,000. Illinois Municipal Retirement Fund lifted its holdings in shares of Bath & Body Works by 28.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 37,608 shares of the company’s stock valued at $2,625,000 after purchasing an additional 8,220 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Bath & Body Works by 5.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 564,010 shares of the company’s stock valued at $39,362,000 after purchasing an additional 30,900 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Bath & Body Works by 17.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 168,282 shares of the company’s stock valued at $11,744,000 after purchasing an additional 24,710 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.
Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Bath & Body Works from $81.00 to $67.00 in a report on Monday, May 16th. Credit Suisse Group cut their price objective on Bath & Body Works from $64.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Cowen dropped their target price on Bath & Body Works from $82.00 to $60.00 in a research report on Friday, May 20th. The Goldman Sachs Group dropped their target price on Bath & Body Works from $85.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, May 20th. Finally, Barclays dropped their target price on Bath & Body Works from $53.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, May 20th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Bath & Body Works presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.47.
BBWI stock opened at $29.91 on Thursday. The firm has a market capitalization of $6.84 billion, a PE ratio of 6.52, a PEG ratio of 1.01 and a beta of 1.58. Bath & Body Works, Inc. has a 1-year low of $29.70 and a 1-year high of $82.00. The business’s 50 day simple moving average is $44.38 and its 200 day simple moving average is $52.62.
Bath & Body Works (NYSE:BBWI – Get Rating) last posted its earnings results on Wednesday, May 18th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. Bath & Body Works had a negative return on equity of 69.03% and a net margin of 15.41%. As a group, research analysts predict that Bath & Body Works, Inc. will post 4.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Thursday, June 2nd. Bath & Body Works’s payout ratio is presently 17.43%.
In related news, CFO Wendy C. Arlin sold 6,000 shares of the business’s stock in a transaction on Tuesday, April 19th. The stock was 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 directly owns 98,888 shares in the company, valued at approximately $5,438,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas E. Mazurek sold 16,338 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $42.25, for a total value of $690,280.50. Following the completion of the sale, the insider now owns 11,225 shares of the company’s stock, valued at $474,256.25. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
Bath & Body Works 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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