Citigroup Inc. Has $11.96 Million Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Citigroup Inc. increased its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 59.8% during the third quarter, HoldingsChannel reports. The fund owned 374,664 shares of the company’s stock after acquiring an additional 140,221 shares during the quarter. Citigroup Inc.’s holdings in Bath & Body Works were worth $11,959,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BBWI. Anthracite Investment Company Inc. bought a new position in Bath & Body Works during the 3rd quarter valued at $2,921,000. Principal Financial Group Inc. lifted its position in shares of 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 purchasing an additional 820,379 shares in the last quarter. 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 purchasing an additional 40,793 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Bath & Body Works by 404.4% during the third quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company’s stock worth $4,295,000 after purchasing an additional 107,868 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Bath & Body Works by 152.7% in the 2nd quarter. Renaissance Technologies LLC now owns 901,133 shares of the company’s stock worth $35,189,000 after purchasing an additional 544,599 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday. Piper Sandler boosted their price objective on Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group lowered their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Evercore ISI reduced their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Bath & Body Works has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $35.90 on Friday. The firm has a market capitalization of $7.87 billion, a P/E ratio of 8.76, a PEG ratio of 1.14 and a beta of 1.79. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The business has a fifty day moving average price of $30.93 and a 200-day moving average price of $35.65.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.23%. Bath & Body Works’s dividend payout ratio is currently 19.51%.

Insider Buying and Selling

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of Bath & Body Works stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

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.