Everett Harris & Co. CA Boosts Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Everett Harris & Co. CA increased its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 3.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,112 shares of the company’s stock after buying an additional 1,645 shares during the period. Everett Harris & Co. CA’s holdings in Bath & Body Works were worth $2,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BBWI. Norges Bank purchased a new stake in Bath & Body Works during the 4th quarter valued at $101,669,000. Lone Pine Capital LLC boosted its stake in shares of Bath & Body Works by 20.0% in the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock worth $450,973,000 after buying an additional 1,742,471 shares during the last quarter. Sound Shore Management Inc. CT boosted its stake in shares of Bath & Body Works by 379.2% in the 4th quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock worth $82,145,000 after buying an additional 1,506,110 shares during the last quarter. Cadian Capital Management LP purchased a new position in shares of Bath & Body Works in the 4th quarter worth $58,266,000. Finally, Earnest Partners LLC boosted its stake in shares of Bath & Body Works by 1,055,015.7% in the 3rd quarter. Earnest Partners LLC now owns 1,276,690 shares of the company’s stock worth $43,152,000 after buying an additional 1,276,569 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BBWI has been the topic of a number of research reports. Telsey Advisory Group restated an “outperform” rating and issued a $53.00 price target on shares of Bath & Body Works in a research note on Tuesday, June 4th. Piper Sandler raised their price target on Bath & Body Works from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upgraded Bath & Body Works from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $40.00 to $53.00 in a research note on Friday, May 17th. Wells Fargo & Company raised their target price on Bath & Body Works from $42.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Bath & Body Works from $53.00 to $57.00 in a report on Monday, June 3rd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.53.

Bath & Body Works Stock Down 1.1 %

NYSE:BBWI traded down $0.42 on Thursday, reaching $37.70. 1,551,805 shares of the company’s stock traded hands, compared to its average volume of 3,156,667. The stock has a 50-day simple moving average of $45.38 and a 200-day simple moving average of $45.01. The firm has a market cap of $8.42 billion, a PE ratio of 9.72, a P/E/G ratio of 1.26 and a beta of 1.85. Bath & Body Works, Inc. has a 12 month low of $27.30 and a 12 month high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. On average, equities analysts anticipate that Bath & Body Works, Inc. will post 3.29 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.12%. Bath & Body Works’s payout ratio is 20.62%.

Bath & Body Works 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.