Bath & Body Works, Inc. $BBWI Shares Acquired by Earnest Partners LLC

Earnest Partners LLC increased its position in Bath & Body Works, Inc. (NYSE:BBWI) by 2.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,307,968 shares of the company’s stock after buying an additional 27,367 shares during the period. Earnest Partners LLC’s holdings in Bath & Body Works were worth $39,658,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in Bath & Body Works during the first quarter worth about $35,000. Golden State Wealth Management LLC grew its holdings in shares of Bath & Body Works by 94.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,320 shares of the company’s stock worth $40,000 after purchasing an additional 642 shares during the period. UMB Bank n.a. grew its holdings in shares of Bath & Body Works by 65.9% during the 1st quarter. UMB Bank n.a. now owns 1,501 shares of the company’s stock worth $46,000 after purchasing an additional 596 shares during the period. Ancora Advisors LLC acquired a new stake in Bath & Body Works during the 4th quarter worth approximately $67,000. Finally, GKV Capital Management Co. Inc. purchased a new position in Bath & Body Works in the first quarter valued at approximately $69,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BBWI. Wall Street Zen downgraded shares of Bath & Body Works from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. UBS Group lifted their target price on shares of Bath & Body Works from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Piper Sandler set a $39.00 price target on shares of Bath & Body Works and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Morgan Stanley cut their price objective on Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Bath & Body Works in a research report on Thursday, August 21st. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.53.

Bath & Body Works Price Performance

Shares of BBWI stock opened at $31.64 on Thursday. The company’s fifty day moving average price is $30.58 and its two-hundred day moving average price is $30.90. The firm has a market capitalization of $6.70 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.05 and a beta of 1.54. Bath & Body Works, Inc. has a 12 month low of $24.94 and a 12 month high of $41.87.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.42 billion. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%.The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. On average, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.80 annualized dividend and a yield of 2.5%. Bath & Body Works’s payout ratio is currently 21.33%.

Bath & Body Works Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.