Brant Point Investment Management LLC Cuts Stock Holdings in Bath & Body Works, Inc. $BBWI

Brant Point Investment Management LLC lowered its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 69.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,515 shares of the company’s stock after selling 90,485 shares during the period. Brant Point Investment Management LLC’s holdings in Bath & Body Works were worth $1,198,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Bath & Body Works during the first quarter worth approximately $35,000. Golden State Wealth Management LLC raised its stake in Bath & Body Works by 94.7% during the first 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. raised its stake in Bath & Body Works by 65.9% during the first 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 purchased a new position in Bath & Body Works during the fourth quarter worth approximately $67,000. Finally, GKV Capital Management Co. Inc. purchased a new position in Bath & Body Works during the first quarter worth approximately $69,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on BBWI shares. 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. Morgan Stanley cut their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the company an “overweight” rating in a research note on Thursday, May 15th. Citigroup cut their target price on shares of Bath & Body Works from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Finally, UBS Group raised their target price on shares of Bath & Body Works from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and an average price target of $42.53.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $31.64 on Thursday. Bath & Body Works, Inc. has a 12-month low of $24.94 and a 12-month high of $41.87. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.54. The firm’s fifty day moving average price is $30.58 and its 200 day moving average price is $30.90.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Bath & Body Works had a net margin of 11.10% and a negative return on equity of 47.44%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share 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 5th. Investors of record on Friday, August 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.80 annualized dividend and a yield of 2.5%. Bath & Body Works’s payout ratio is 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.