GAMMA Investing LLC Increases Stake in Bath & Body Works, Inc. (NYSE:BBWI)

GAMMA Investing LLC grew its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 34.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,481 shares of the company’s stock after buying an additional 635 shares during the quarter. GAMMA Investing LLC’s holdings in Bath & Body Works were worth $79,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Bath & Body Works by 14.9% during the fourth quarter. Wellington Management Group LLP now owns 131,732 shares of the company’s stock worth $5,686,000 after acquiring an additional 17,131 shares during the last quarter. Vanguard Group Inc. grew its stake in Bath & Body Works by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 26,296,068 shares of the company’s stock worth $1,134,938,000 after purchasing an additional 606,525 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Bath & Body Works by 3.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 87,132 shares of the company’s stock worth $3,761,000 after buying an additional 3,003 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in Bath & Body Works during the 1st quarter valued at about $408,000. Finally, Boltwood Capital Management purchased a new position in Bath & Body Works during the first quarter valued at approximately $206,000. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

BBWI stock opened at $31.03 on Tuesday. Bath & Body Works, Inc. has a 1 year low of $26.20 and a 1 year high of $52.99. The firm has a market capitalization of $6.93 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.77. The business has a 50 day simple moving average of $30.88 and a 200-day simple moving average of $38.92.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities 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 issued a $0.20 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.80 annualized dividend and a yield of 2.58%. Bath & Body Works’s payout ratio is 20.62%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BBWI. Evercore ISI cut their price objective on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 28th. Raymond James reduced their price objective on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Telsey Advisory Group reissued an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a report on Thursday, September 26th. Piper Sandler decreased their price target 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. Finally, The Goldman Sachs Group decreased their price objective on shares of 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. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.35.

Insider Activity

In other news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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.