Louisiana State Employees Retirement System Sells 500 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Louisiana State Employees Retirement System trimmed its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 3.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 12,700 shares of the company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Bath & Body Works were worth $496,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BBWI. TD Asset Management Inc boosted its stake in Bath & Body Works by 3.7% during the fourth quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock worth $42,136,000 after acquiring an additional 35,261 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Bath & Body Works by 28.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after purchasing an additional 56,764 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Bath & Body Works by 46.9% during the 1st quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock worth $6,572,000 after purchasing an additional 41,995 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Bath & Body Works in the 4th quarter valued at about $1,618,000. Finally, Vanguard Group Inc. increased its position in Bath & Body Works by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after buying an additional 1,102,124 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Stock Down 0.8 %

Bath & Body Works stock opened at $30.76 on Friday. Bath & Body Works, Inc. has a 52 week low of $27.30 and a 52 week high of $52.99. The company’s 50 day moving average price is $35.46 and its two-hundred day moving average price is $42.59. The stock has a market cap of $6.87 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.16 and a beta of 1.85.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. Bath & Body Works’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, equities analysts anticipate that Bath & Body Works, Inc. will post 3.29 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is currently 20.62%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price target on shares of Bath & Body Works in a report on Wednesday. Raymond James cut their target price on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday. Piper Sandler lowered their price objective on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Citigroup reduced their price objective on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.50.

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.