Wealth Enhancement Advisory Services LLC Makes New Investment in Bath & Body Works, Inc. (NYSE:BBWI)

Wealth Enhancement Advisory Services LLC purchased a new stake in Bath & Body Works, Inc. (NYSE:BBWI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,733 shares of the company’s stock, valued at approximately $343,000.

A number of other hedge funds have also recently made changes to their positions in the business. Anomaly Capital Management LP bought a new stake in shares of Bath & Body Works in the 2nd quarter worth $113,995,000. Lone Pine Capital LLC grew its position in Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after purchasing an additional 1,547,399 shares in the last quarter. Vanguard Group Inc. increased its stake in Bath & Body Works by 4.2% in 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 during the last quarter. Assenagon Asset Management S.A. increased its stake in Bath & Body Works by 723.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock valued at $37,268,000 after buying an additional 1,025,757 shares during the last quarter. Finally, Interval Partners LP lifted its position in shares of Bath & Body Works by 230.0% during the 2nd quarter. Interval Partners LP now owns 1,280,593 shares of the company’s stock worth $50,007,000 after buying an additional 892,488 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BBWI shares. Wells Fargo & Company reduced their target price on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a research note on Thursday, September 26th. Citigroup lowered their target price on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. BMO Capital Markets reissued an “outperform” rating and issued a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Finally, Morgan Stanley decreased their price objective on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.44.

Insiders Place Their Bets

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.27% of the company’s stock.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $30.00 on Monday. The company’s fifty day moving average price is $30.01 and its 200-day moving average price is $36.87. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 0.95 and a beta of 1.79. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. As a group, equities research analysts expect that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is currently 19.37%.

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.