Quarry LP Boosts Position in Bath & Body Works, Inc. (NYSE:BBWI)

Quarry LP boosted its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 320.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,795 shares of the company’s stock after acquiring an additional 2,893 shares during the quarter. Quarry LP’s holdings in Bath & Body Works were worth $148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BBWI. Advisory Services Network LLC purchased a new stake in Bath & Body Works during the fourth quarter valued at $170,000. TFO Wealth Partners LLC increased its position in Bath & Body Works by 9,664.7% during the fourth quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock valued at $72,000 after acquiring an additional 1,643 shares during the last quarter. Bank of Nova Scotia increased its position in Bath & Body Works by 27.0% during the fourth quarter. Bank of Nova Scotia now owns 27,512 shares of the company’s stock valued at $1,187,000 after acquiring an additional 5,843 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Bath & Body Works during the fourth quarter valued at $211,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Bath & Body Works during the fourth quarter valued at $1,515,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

BBWI has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on 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. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research report on Thursday, September 26th. 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. Wells Fargo & Company reduced their price target on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Morgan Stanley reduced their price target on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.35.

Bath & Body Works Trading Down 1.5 %

NYSE:BBWI opened at $31.92 on Tuesday. The stock has a 50-day moving average price of $31.74 and a 200 day moving average price of $40.14. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99. The stock has a market capitalization of $7.13 billion, a P/E ratio of 8.23, a P/E/G ratio of 0.96 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.54 billion. On average, research analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s payout ratio 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.