Bath & Body Works, Inc. (NYSE:BBWI) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 11.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,700 shares of the company’s stock after buying an additional 666 shares during the quarter. Park Avenue Securities LLC’s holdings in Bath & Body Works were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Bath & Body Works by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 26,296,068 shares of the company’s stock worth $1,134,938,000 after purchasing an additional 606,525 shares during the period. Lone Pine Capital LLC lifted its stake in shares of Bath & Body Works by 20.0% in the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock worth $450,973,000 after acquiring an additional 1,742,471 shares during the period. Norges Bank bought a new position in shares of Bath & Body Works in the fourth quarter valued at approximately $101,669,000. Charles Schwab Investment Management Inc. increased its stake in shares of Bath & Body Works by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,963,919 shares of the company’s stock valued at $84,763,000 after acquiring an additional 38,272 shares during the period. Finally, Sound Shore Management Inc. CT raised its holdings in Bath & Body Works by 379.2% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock worth $82,145,000 after purchasing an additional 1,506,110 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

NYSE BBWI opened at $39.05 on Monday. The firm’s 50 day moving average price is $45.95 and its two-hundred day moving average price is $45.16. Bath & Body Works, Inc. has a twelve month low of $27.30 and a twelve month high of $52.99. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.29 and a beta of 1.90.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. Bath & Body Works’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, research analysts forecast that Bath & Body Works, Inc. will post 3.29 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, June 7th. Bath & Body Works’s dividend payout ratio is currently 20.62%.

Analyst Ratings Changes

A number of brokerages have issued reports on BBWI. Piper Sandler increased their price target on Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Bath & Body Works from $53.00 to $57.00 in a report on Monday, June 3rd. BMO Capital Markets upped their price target on shares of Bath & Body Works from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, June 5th. Wells Fargo & Company lifted their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group boosted their target price on shares of Bath & Body Works from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Hold” and an average target price of $48.53.

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.