MBB Public Markets I LLC Acquires Shares of 15,805 Bath & Body Works, Inc. (NYSE:BBWI)

MBB Public Markets I LLC purchased a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,805 shares of the company’s stock, valued at approximately $617,000.

Other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Bath & Body Works in the fourth quarter valued at approximately $170,000. TFO Wealth Partners LLC grew its holdings in Bath & Body Works by 9,664.7% during the 4th quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock worth $72,000 after acquiring an additional 1,643 shares in the last quarter. Bank of Nova Scotia increased its holdings in Bath & Body Works by 27.0% in the fourth quarter. Bank of Nova Scotia now owns 27,512 shares of the company’s stock valued at $1,187,000 after buying an additional 5,843 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Bath & Body Works during the 4th quarter worth about $211,000. Finally, Rafferty Asset Management LLC raised its holdings in Bath & Body Works by 11.9% during the fourth quarter. Rafferty Asset Management LLC now owns 45,671 shares of the company’s stock worth $1,971,000 after purchasing an additional 4,847 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BBWI shares. Citigroup reduced their price objective on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. BMO Capital Markets reissued an “outperform” rating and issued a $50.00 target price (down previously from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Robert W. Baird lowered their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Piper Sandler cut their target price on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.35.

Bath & Body Works Stock Performance

Bath & Body Works stock opened at $31.10 on Wednesday. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The firm has a market capitalization of $6.94 billion, a PE ratio of 8.01, a PEG ratio of 0.96 and a beta of 1.77. The business’s 50-day simple moving average is $31.62 and its 200-day simple moving average is $40.04.

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. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Research analysts forecast that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.57%. Bath & Body Works’s payout ratio is 20.62%.

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.