Sound Shore Management Inc. CT Acquires 189,889 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Sound Shore Management Inc. CT boosted its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,088,703 shares of the company’s stock after acquiring an additional 189,889 shares during the period. Bath & Body Works accounts for 2.7% of Sound Shore Management Inc. CT’s holdings, making the stock its 17th biggest position. Sound Shore Management Inc. CT’s holdings in Bath & Body Works were worth $81,564,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Bath & Body Works by 17.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,220,472 shares of the company’s stock valued at $52,675,000 after purchasing an additional 177,373 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Bath & Body Works during the 4th quarter worth about $228,000. Vanguard Personalized Indexing Management LLC grew its stake in Bath & Body Works by 5.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,481 shares of the company’s stock valued at $539,000 after buying an additional 632 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Bath & Body Works in the 4th quarter valued at about $853,000. Finally, Great Lakes Advisors LLC bought a new position in Bath & Body Works in the 4th quarter valued at about $250,000. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $29.28 on Friday. Bath & Body Works, Inc. has a 1 year low of $26.20 and a 1 year high of $52.99. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 0.86 and a beta of 1.77. The company’s 50 day simple moving average is $32.74 and its 200 day simple moving average is $40.90.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.20 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.73%. Bath & Body Works’s payout ratio is 20.62%.

Wall Street Analyst Weigh In

BBWI has been the subject of a number of research analyst reports. 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 report on Monday, August 26th. Citigroup decreased their price objective on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Piper Sandler dropped their target price 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. Evercore ISI decreased their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 28th. Finally, Morgan Stanley lowered their price target on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.00.

Bath & Body Works Company 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.