Northwestern Mutual Investment Management Company LLC reduced its stake in Bath & Body Works, Inc. (NYSE: BBWI – Get a rating) by 13.8% in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). The institutional investor held 10,251 shares of the company after selling 1,643 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Bath & Body Works were worth $490,000 when it last filed with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also bought and sold stocks. Prospera Financial Services Inc bought a new position in shares of Bath & Body Works during the first quarter worth approximately $25,000. Acadian Asset Management LLC bought a new position in shares of Bath & Body Works during the fourth quarter worth approximately $30,000. CVA Family Office LLC increased its stake in shares of Bath & Body Works by 153.4% during the first quarter. CVA Family Office LLC now owns 735 shares of the company worth $35,000 after acquiring 445 additional shares in the last quarter. Alpha Paradigm Partners LLC bought a new position in shares of Bath & Body Works during the fourth quarter worth approximately $40,000. Finally, CWM LLC bought a new position in shares of Bath & Body Works during the fourth quarter worth approximately $42,000. 97.11% of the shares are held by hedge funds and other institutional investors.
Insiders place their bets
In other Bath & Body Works news, insider Thomas E. Mazurek sold 16,338 shares of the company in a trade that took place on Friday, May 27. The stock was sold at an average price of $42.25, for a total value of $690,280.50. Following the completion of the transaction, the insider now directly owns 11,225 shares of the company, valued at approximately $474,256.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. 0.37% of the shares are currently held by company insiders.
Changes to analyst ratings
Several research analysts have commented on BBWI shares. BMO Capital Markets cut its price target on Bath & Body Works shares from $65.00 to $45.00 in a Thursday, July 21 research note. B. Riley cut his price target on Bath & Body Works stock from $67.00 to $44.00 and set a “buy” rating on the stock in a Thursday July 21 report. 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. Cowen cut its target price on Bath & Body Works shares from $82.00 to $60.00 in a Friday, May 20 report. Finally, UBS Group lowered its price target on Bath & Body Works from $70.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, July 15. Four investment analysts gave the stock a hold rating, sixteen gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and a consensus target price of $49.90.
Bath & Body Works up 1.9%
Shares of NYSE: BBWI opened at $39.99 on Monday. The stock has a 50-day moving average of $32.47 and a 200-day moving average of $43.84. The company has a market capitalization of $9.15 billion, a PE ratio of 8.71, a growth price-earnings ratio of 3.88 and a beta of 1.82. Bath & Body Works, Inc. has a 12 month minimum of $25.75 and a 12 month maximum of $82.00.
Bath and body care (NYSE: BBWI – Get a rating) last reported quarterly earnings data on Wednesday, May 18. The company reported earnings per share (EPS) of $0.64 for the quarter, beating consensus analyst estimates of $0.51 by $0.13. The company posted revenue of $1.45 billion in the quarter, versus a consensus estimate of $1.43 billion. Bath & Body Works had a negative return on equity of 69.03% and a net margin of 15.41%. Equity research analysts expect Bath & Body Works, Inc. to post earnings per share of 2.64 for the current fiscal year.
Bath & Body Works Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 2. Shareholders of record on Friday, August 19 will receive a dividend of $0.20. The ex-dividend date is Thursday, August 18. This represents an annualized dividend of $0.80 and a yield of 2.00%. The Bath & Body Works payout ratio is 17.43%.
Company Profile Bath & Body Works
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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