Public Sector Pension Investment Board Acquires 2,976 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Public Sector Pension Investment Board increased its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 43.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,874 shares of the company’s stock after purchasing an additional 2,976 shares during the period. Public Sector Pension Investment Board’s holdings in Bath & Body Works were worth $386,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BBWI. Lone Pine Capital LLC increased its position in Bath & Body Works by 20.0% in the fourth quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock worth $450,973,000 after purchasing an additional 1,742,471 shares during the last quarter. Cadian Capital Management LP bought a new position in Bath & Body Works during the fourth quarter valued at $58,266,000. Vanguard Group Inc. increased its position in Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after acquiring an additional 1,102,124 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Bath & Body Works during the second quarter valued at $25,867,000. Finally, Forest Avenue Capital Management LP increased its position in Bath & Body Works by 98.5% during the second quarter. Forest Avenue Capital Management LP now owns 1,232,590 shares of the company’s stock valued at $48,133,000 after acquiring an additional 611,583 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

BBWI has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Raymond James cut their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Company cut their price objective on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. UBS Group cut their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Piper Sandler lowered their target price on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.35.

Bath & Body Works Price Performance

NYSE:BBWI opened at $29.59 on Friday. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The company has a 50-day moving average of $31.54 and a 200 day moving average of $39.97. The firm has a market cap of $6.61 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 0.96 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last released 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. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal 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 issued a $0.20 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. Bath & Body Works’s dividend payout ratio is presently 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.