Bath & Body Works, Inc. (NYSE:BBWI) Shares Acquired by New York State Teachers Retirement System

Posted by on Jul 20th, 2023

New York State Teachers Retirement System grew its holdings in Bath & Body Works, Inc. (NYSE:BBWI – Free Report) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,573 shares of the company’s stock after acquiring an additional 3,636 shares during the period. New York State Teachers Retirement System owned about 0.11% of Bath & Body Works worth $9,349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of BBWI. Massmutual Trust Co. FSB ADV grew its stake in shares of Bath & Body Works by 406.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 704 shares of the company’s stock worth $26,000 after acquiring an additional 565 shares in the last quarter. Boyd Watterson Asset Management LLC OH acquired a new position in shares of Bath & Body Works during the fourth quarter worth $28,000. Money Concepts Capital Corp grew its stake in shares of Bath & Body Works by 1,180.4% during the fourth quarter. Money Concepts Capital Corp now owns 653 shares of the company’s stock worth $28,000 after purchasing an additional 602 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Bath & Body Works by 50.4% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,065 shares of the company’s stock worth $29,000 after purchasing an additional 357 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new position in shares of Bath & Body Works during the fourth quarter worth $46,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Bath & Body Works from $48.00 to $38.00 in a research note on Monday, May 8th. UBS Group downgraded shares of Bath & Body Works from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 29th. Citigroup boosted their target price on shares of Bath & Body Works from $37.00 to $38.00 in a research note on Friday, May 19th. 51job restated a “maintains” rating on shares of Bath & Body Works in a research note on Monday, May 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of Bath & Body Works from $46.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.68.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $36.00 on Thursday. The company has a 50-day simple moving average of $37.49 and a 200-day simple moving average of $39.06. Bath & Body Works, Inc. has a one year low of $28.37 and a one year high of $49.55. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.94 and a beta of 1.69.

Bath & Body Works (NYSE:BBWI – Get Free Report) last posted its quarterly earnings results on Thursday, May 18th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Bath & Body Works had a net margin of 9.67% and a negative return on equity of 29.65%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, research analysts forecast that Bath & Body Works, Inc. will post 2.99 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.80 annualized dividend and a yield of 2.22%. Bath & Body Works’s dividend payout ratio is currently 25.32%.

About Bath & Body Works

(Free Report)

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.

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Institutional Ownership by Quarter for Bath & Body Works (NYSE:BBWI)

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