State of Alaska Department of Revenue Increases Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

State of Alaska Department of Revenue increased its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 418.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 127,226 shares of the company’s stock after buying an additional 102,675 shares during the period. State of Alaska Department of Revenue’s holdings in Bath & Body Works were worth $4,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Bath & Body Works by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 527,415 shares of the company’s stock worth $26,381,000 after buying an additional 5,738 shares during the period. Norden Group LLC bought a new stake in Bath & Body Works during the 1st quarter valued at $215,000. Everett Harris & Co. CA grew its stake in shares of Bath & Body Works by 3.5% in the first quarter. Everett Harris & Co. CA now owns 48,112 shares of the company’s stock worth $2,407,000 after purchasing an additional 1,645 shares in the last quarter. Van ECK Associates Corp increased its stake in Bath & Body Works by 28.4% during the 1st quarter. Van ECK Associates Corp now owns 73,195 shares of the company’s stock valued at $3,661,000 after buying an additional 16,192 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bath & Body Works by 69.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,011 shares of the company’s stock worth $2,502,000 after buying an additional 20,436 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 2.1 %

Shares of BBWI stock opened at $28.84 on Wednesday. The stock’s fifty day simple moving average is $30.52 and its 200-day simple moving average is $37.65. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 7.43, a P/E/G ratio of 0.95 and a beta of 1.77. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99.

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 analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. On average, sell-side analysts predict that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is currently 20.62%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BBWI shares. Raymond James dropped 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, August 29th. Wells Fargo & Company cut their price objective on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Evercore ISI lowered their target price on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, August 28th. Piper Sandler cut their price target on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.13.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

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.