DNB Asset Management AS increased its stake in Bath & Body Works, Inc. (NYSE: BBWI – Get a rating) by 6.3% in the first quarter, according to its latest 13F filing with the Securities & Exchange Commission. The institutional investor held 46,568 shares of the company after purchasing an additional 2,760 shares during the quarter. DNB Asset Management AS’s holdings in Bath & Body Works were worth $2,226,000 at the end of the last quarter.
A number of other hedge funds have also recently added or reduced their stakes in the stock. Dark Forest Capital Management LP bought a new position in Bath & Body Works in Q3 worth around $70,000. Cubist Systematic Strategies LLC bought a new position in shares of Bath & Body Works in the third quarter worth $1,457,000. MML Investors Services LLC acquired a new position in shares of Bath & Body Works during Q3 worth $846,000. LPL Financial LLC bought a new stake in shares of Bath & Body Works in Q3 for a value of approximately $6,300,000. Finally, Wellington Management Group LLP acquired a new stake in Bath & Body Works in Q3 valued at approximately $695,000. 97.11% of the shares are currently held by hedge funds and other institutional investors.
Several brokerages have published reports on BBWI. Credit Suisse Group cut its price target on Bath & Body Works shares from $64.00 to $49.00 and set a “neutral” rating on the stock in a Thursday, May 19 report. B. Riley lowered his target price on Bath & Body Works from $76.00 to $67.00 and set a “buy” rating on the stock in a Friday May 20 report. Citigroup cut its price target on Bath & Body Works from $87.00 to $54.00 and set a “buy” rating for the company in a Monday, May 23 report. BMO Capital Markets cut its price target on Bath & Body Works from $83.00 to $65.00 in a Thursday, May 19 research report. Finally, JPMorgan Chase & Co. lowered its price target on Bath & Body Works from $81.00 to $67.00 in a Monday, May 16 research report. Two equity research analysts gave the stock a hold rating and seventeen gave the stock a buy rating. Based on data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.47.
In other Bath & Body Works news, insider Thomas E. Mazurek sold 16,338 shares of Bath & Body Works in a trade that took place on Friday, May 27. The shares were sold at an average price of $42.25, for a total transaction of $690,280.50. Following the transaction, the insider now directly owns 11,225 shares of the company, valued at $474,256.25. The sale was disclosed in an SEC filing, available at this link. Also, CFO Wendy C.Arlin sold 6,000 shares of the company in a transaction that took place on Tuesday, April 19. The stock was sold at an average price of $55.00, for a total transaction of $330,000.00. Following the sale, the CFO now owns 98,888 shares of the company, valued at $5,438,840. Disclosure of this sale can be found here. Insiders own 0.37% of the shares of the company.
NYSE: BBWI opened at $30.95 on Friday. The company has a market capitalization of $7.08 billion, a P/E ratio of 6.74, a P/E/G ratio of 0.90 and a beta of 1.58. The company’s 50-day moving average is $43.50 and its two-hundred-day moving average is $52.00. Bath & Body Works, Inc. has a fifty-two week minimum of $28.89 and a fifty-two week maximum of $82.00.
Bath and body care (NYSE: BBWI – Get a rating) last reported results on Wednesday, May 18. The company reported earnings per share of $0.64 for the quarter, beating the consensus estimate of $0.51 by $0.13. Bath & Body Works had a negative return on equity of 69.03% and a net margin of 15.41%. The company posted revenue of $1.45 billion for the quarter, compared to analysts’ estimates of $1.43 billion. As a group, research analysts expect Bath & Body Works, Inc. to post earnings per share of $4.01 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17. Shareholders of record on Friday, June 3 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a dividend yield of 2.58%. The ex-dividend date was Thursday, June 2. Bath & Body Works’ dividend payout ratio is currently 17.43%.
About Bath & Body Works (Get a rating)
Bath & Body Works, Inc operates a specialty retailer of home fragrances, body care, soaps and sanitizers. The Company sells its products under Bath & Body Works, White Barn and other brands through specialty retail stores and websites located in the United States and Canada, as well as international stores operated by partners. under franchise, license and wholesale agreements. .
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