Amalgamated Bank Sells 12,048 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Amalgamated Bank lessened its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 15.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,507 shares of the company’s stock after selling 12,048 shares during the period. Amalgamated Bank’s holdings in Bath & Body Works were worth $2,597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Asset Management Inc grew its holdings in Bath & Body Works by 3.7% in the fourth quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock worth $42,136,000 after purchasing an additional 35,261 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Bath & Body Works by 28.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after purchasing an additional 56,764 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Bath & Body Works by 46.9% in the first quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock valued at $6,572,000 after purchasing an additional 41,995 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Bath & Body Works by 4.2% in the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after purchasing an additional 1,102,124 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Bath & Body Works by 968.1% in the first quarter. SG Americas Securities LLC now owns 190,758 shares of the company’s stock worth $9,542,000 after acquiring an additional 172,898 shares during the period. Institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

BBWI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. reduced their price target on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Citigroup reduced their price target on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Barclays reduced their price target on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, BMO Capital Markets restated an “outperform” rating and set a $50.00 price target (down previously from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $30.07 on Wednesday. The firm has a 50 day simple moving average of $32.28 and a 200-day simple moving average of $40.53. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.86 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. Equities analysts expect that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Bath & Body Works Company Profile

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.