Bank of New York Mellon Corp boosted its position in shares of Bath & Body Works, Inc. (NYSE:BBWI – Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,017,724 shares of the company’s stock after acquiring an additional 45,860 shares during the period. Bank of New York Mellon Corp owned about 0.88% of Bath & Body Works worth $73,808,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBWI. Money Concepts Capital Corp boosted its holdings in shares of Bath & Body Works by 1,180.4% in the 4th quarter. Money Concepts Capital Corp now owns 653 shares of the company’s stock valued at $28,000 after buying an additional 602 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Bath & Body Works by 406.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 704 shares of the company’s stock valued at $26,000 after buying an additional 565 shares in the last quarter. Desjardins Global Asset Management Inc. acquired a new position in shares of Bath & Body Works in the 1st quarter valued at $36,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Bath & Body Works by 50.4% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,065 shares of the company’s stock valued at $29,000 after buying an additional 357 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new position in shares of Bath & Body Works in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 92.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on BBWI shares. Telsey Advisory Group restated an “outperform” rating and issued a $52.00 target price on shares of Bath & Body Works in a report on Wednesday. Citigroup increased their price target on shares of Bath & Body Works from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays upgraded shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $45.00 in a research note on Tuesday, August 1st. TheStreet upgraded shares of Bath & Body Works from a “d” rating to a “c” rating in a research note on Thursday, May 18th. Finally, Morgan Stanley decreased their price target on shares of Bath & Body Works from $76.00 to $61.00 in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works has an average rating of “Moderate Buy” and a consensus price target of $46.88.
Bath & Body Works Stock Up 1.1 %
Shares of BBWI opened at $36.52 on Friday. The company has a 50-day simple moving average of $37.47 and a 200-day simple moving average of $37.83. The company has a market capitalization of $8.36 billion, a PE ratio of 11.56, a P/E/G ratio of 1.22 and a beta of 1.71. Bath & Body Works, Inc. has a 52-week low of $30.52 and a 52-week high of $49.55.
Bath & Body Works (NYSE:BBWI – Get Free Report) last announced its quarterly earnings results on Thursday, May 18th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Bath & Body Works had a net margin of 9.67% and a negative return on equity of 29.65%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, research analysts anticipate that Bath & Body Works, Inc. will post 3 EPS for the current year.
Bath & Body Works Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.20 dividend. The ex-dividend date is Thursday, August 17th. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. Bath & Body Works’s payout ratio is 25.32%.
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.
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