Bath & Body Works, Inc. (NYSE:BBWI) Stock Holdings Increased by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 275.1% during the 2nd quarter, Holdings Channel reports. The fund owned 3,620 shares of the company’s stock after purchasing an additional 2,655 shares during the period. Federated Hermes Inc.’s holdings in Bath & Body Works were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Bath & Body Works by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after buying an additional 1,102,124 shares in the last quarter. Lone Pine Capital LLC raised 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 buying an additional 1,742,471 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Bath & Body Works by 5.6% in the 1st quarter. Bessemer Group Inc. now owns 1,448,278 shares of the company’s stock worth $72,443,000 after buying an additional 76,183 shares in the last quarter. Cadian Capital Management LP bought a new stake in shares of Bath & Body Works in the 4th quarter worth $58,266,000. Finally, Earnest Partners LLC raised its stake in shares of Bath & Body Works by 2.6% in the 1st quarter. Earnest Partners LLC now owns 1,302,833 shares of the company’s stock worth $65,168,000 after buying an additional 32,791 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

Shares of BBWI stock opened at $30.52 on Thursday. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The stock’s 50-day moving average is $32.10 and its two-hundred day moving average is $40.46. The firm has a market cap of $6.69 billion, a P/E ratio of 7.87, a PEG ratio of 0.96 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts expect that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s payout ratio is currently 20.62%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 target price on shares of Bath & Body Works in a report on Wednesday, August 28th. Piper Sandler reduced their target price on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. reduced their target price on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, Robert W. Baird reduced their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works has an average rating of “Moderate Buy” and an average price target of $43.00.

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.