Scientech Research LLC Purchases New Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Scientech Research LLC purchased a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the second quarter, Holdings Channel reports. The firm purchased 38,915 shares of the company’s stock, valued at approximately $1,520,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BBWI. TD Asset Management Inc increased its position 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 buying an additional 35,261 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position 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 worth $12,936,000 after buying an additional 56,764 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of 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 in the last quarter. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Finally, SG Americas Securities LLC grew 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 valued at $9,542,000 after purchasing an additional 172,898 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BBWI. UBS Group reduced their price target on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. The Goldman Sachs Group reduced their price target on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Robert W. Baird reduced their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Barclays reduced their price target on 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 reiterated an “outperform” rating and issued a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.35.

Bath & Body Works Stock Up 4.0 %

Shares of BBWI stock opened at $31.74 on Friday. The business has a 50-day moving average price of $31.96 and a two-hundred day moving average price of $40.40. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99. The firm has a market cap of $6.95 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 0.96 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) 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 firm had revenue of $1.53 billion during 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 fiscal year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.52%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is currently 20.62%.

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.