Bath & Body Works, Inc. (NYSE:BBWI) Shares Purchased by Summit Global Investments

Summit Global Investments increased its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 57.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,783 shares of the company’s stock after buying an additional 5,753 shares during the quarter. Summit Global Investments’ holdings in Bath & Body Works were worth $504,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Bath & Body Works by 328.7% during the third quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after acquiring an additional 820,379 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Bath & Body Works by 5.3% in the 3rd quarter. Amalgamated Bank now owns 70,060 shares of the company’s stock valued at $2,236,000 after purchasing an additional 3,553 shares during the period. New York State Teachers Retirement System boosted its holdings in Bath & Body Works by 18.1% during the third quarter. New York State Teachers Retirement System now owns 266,235 shares of the company’s stock worth $8,498,000 after buying an additional 40,793 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Bath & Body Works during the third quarter valued at $103,000. Finally, State of Alaska Department of Revenue increased its holdings in Bath & Body Works by 418.2% in the third quarter. State of Alaska Department of Revenue now owns 127,226 shares of the company’s stock valued at $4,061,000 after buying an additional 102,675 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Trading Down 5.5 %

Bath & Body Works stock opened at $30.00 on Monday. 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 cap of $6.57 billion, a P/E ratio of 7.26, a PEG ratio of 0.95 and a beta of 1.79. The company has a 50-day moving average price of $30.01 and a 200 day moving average price of $36.87.

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

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.20 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. Bath & Body Works’s dividend payout ratio (DPR) is 19.37%.

Analyst Ratings Changes

BBWI has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on 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. Citigroup decreased their price target on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Bank of America cut their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Barclays downgraded Bath & Body Works from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $31.00 to $28.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus target price of $42.44.

Insider Activity

In related news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Bath & Body Works 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.