Point72 Hong Kong Ltd Acquires Shares of 144,871 Bath & Body Works, Inc. (NYSE:BBWI)

Point72 Hong Kong Ltd bought a new position in Bath & Body Works, Inc. (NYSE:BBWI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 144,871 shares of the company’s stock, valued at approximately $5,657,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BBWI. First Community Trust NA purchased a new stake in Bath & Body Works during the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC raised its stake in shares of Bath & Body Works by 72.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after acquiring an additional 337 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Bath & Body Works by 75.7% during the first quarter. GAMMA Investing LLC now owns 1,116 shares of the company’s stock worth $56,000 after purchasing an additional 481 shares during the period. TFO Wealth Partners LLC grew its stake in shares of Bath & Body Works by 9,664.7% in the fourth quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock worth $72,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Quarry LP increased its holdings in Bath & Body Works by 289.4% during the 4th quarter. Quarry LP now owns 1,690 shares of the company’s stock valued at $73,000 after purchasing an additional 1,256 shares during the period. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BBWI. UBS Group cut their price objective on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Piper Sandler dropped their price target on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. BMO Capital Markets restated an “outperform” rating and issued a $50.00 price objective (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Bath & Body Works Trading Down 0.9 %

Shares of NYSE:BBWI opened at $30.07 on Wednesday. The stock has a fifty day simple moving average of $32.28 and a two-hundred day simple moving average of $40.53. 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 capitalization of $6.59 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.96 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates 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, equities research analysts predict 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. Stockholders of record on Friday, August 23rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.66%. Bath & Body Works’s dividend payout ratio is presently 20.62%.

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.