Bank of Nova Scotia acquired a new stake in Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,004 shares of the company’s stock, valued at approximately $801,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cambridge Investment Research Advisors Inc. raised its holdings in Bath & Body Works by 12.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,672 shares of the company’s stock worth $940,000 after purchasing an additional 2,228 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Bath & Body Works by 3.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,484 shares of the company’s stock valued at $1,648,000 after buying an additional 1,301 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Bath & Body Works by 253.4% in the first quarter. Vontobel Holding Ltd. now owns 44,967 shares of the company’s stock valued at $2,244,000 after buying an additional 32,242 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Bath & Body Works by 127.4% during the first quarter. Candriam Luxembourg S.C.A. now owns 27,922 shares of the company’s stock worth $1,335,000 after acquiring an additional 15,642 shares during the period. Finally, Baird Financial Group Inc. raised its position in Bath & Body Works by 54.3% in the first quarter. Baird Financial Group Inc. now owns 113,805 shares of the company’s stock worth $5,440,000 after acquiring an additional 40,046 shares in the last quarter. 96.34% of the stock is owned by hedge funds and other institutional investors.
Bath & Body Works Price Performance
BBWI opened at $38.51 on Wednesday. Bath & Body Works, Inc. has a 12 month low of $25.75 and a 12 month high of $49.55. The business has a 50-day moving average of $35.30 and a two-hundred day moving average of $39.56. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 0.99 and a beta of 1.70.
Bath & Body Works Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Thursday, June 1st. Bath & Body Works’s dividend payout ratio is currently 25.32%.
Insider Transactions at Bath & Body Works
In other Bath & Body Works news, CFO Wendy C. Arlin sold 1,625 shares of Bath & Body Works stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $38.29, for a total transaction of $62,221.25. Following the transaction, the chief financial officer now directly owns 91,072 shares of the company’s stock, valued at $3,487,146.88. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.
Analysts Set New Price Targets
BBWI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bath & Body Works from $55.00 to $47.00 in a research report on Friday, February 24th. Cowen raised their price objective on Bath & Body Works from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. 51job reiterated a “maintains” rating on shares of Bath & Body Works in a research report on Monday. Raymond James cut Bath & Body Works from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $50.00 to $48.00 in a research report on Thursday, April 6th. Finally, Jefferies Financial Group boosted their price objective on shares of Bath & Body Works from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Bath & Body Works presently has a consensus rating of “Hold” and an average price target of $46.45.
About Bath & Body Works
Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.
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