PGGM Investments Purchases New Position in Bath & Body Works, Inc. (NYSE:BBWI)

PGGM Investments purchased a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,027 shares of the company’s stock, valued at approximately $509,000.

A number of other hedge funds also recently bought and sold shares of BBWI. TD Asset Management Inc grew its holdings in shares of Bath & Body Works by 3.7% during the 4th quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock worth $42,136,000 after acquiring an additional 35,261 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Bath & Body Works by 28.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock worth $12,936,000 after acquiring an additional 56,764 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Bath & Body Works by 46.9% during the 1st quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock worth $6,572,000 after acquiring an additional 41,995 shares during the period. Frazier Financial Advisors LLC purchased a new stake in shares of Bath & Body Works in the 4th quarter worth approximately $1,618,000. Finally, Vanguard Group Inc. increased its position in Bath & Body Works by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after buying an additional 1,102,124 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 0.6 %

Bath & Body Works stock traded down $0.20 during trading on Wednesday, reaching $31.40. The company had a trading volume of 2,767,530 shares, compared to its average volume of 2,979,524. Bath & Body Works, Inc. has a 52 week low of $27.30 and a 52 week high of $52.99. The firm’s 50-day simple moving average is $37.87 and its 200 day simple moving average is $43.43. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 1.16 and a beta of 1.85.

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

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.55%. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BBWI shares. Barclays reduced their price objective on Bath & Body Works from $45.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets raised their price objective on Bath & Body Works from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, June 5th. Piper Sandler reduced their price objective on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Bath & Body Works from $53.00 to $57.00 in a research report on Monday, June 3rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Bath & Body Works in a research report on Tuesday, June 4th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.73.

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.