Los Angeles Capital Management LLC Reduces Position in Bath & Body Works, Inc. (NYSE:BBWI)

Los Angeles Capital Management LLC decreased its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 63.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 332,952 shares of the company’s stock after selling 572,247 shares during the period. Los Angeles Capital Management LLC’s holdings in Bath & Body Works were worth $15,915,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Prospera Financial Services Inc purchased a new stake in shares of Bath & Body Works in the first quarter valued at $25,000. Acadian Asset Management LLC purchased a new stake in shares of Bath & Body Works in the fourth quarter valued at $30,000. CVA Family Office LLC grew its position in shares of Bath & Body Works by 153.4% in the first quarter. CVA Family Office LLC now owns 735 shares of the company’s stock valued at $35,000 after purchasing an additional 445 shares during the period. Alpha Paradigm Partners LLC purchased a new stake in shares of Bath & Body Works in the fourth quarter valued at $40,000. Finally, CWM LLC purchased a new stake in shares of Bath & Body Works in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Analyst Upgrades and Downgrades

BBWI has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on Bath & Body Works from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. Robert W. Baird reduced their target price on Bath & Body Works from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, July 21st. Credit Suisse Group reduced their target price on Bath & Body Works from $64.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Bath & Body Works from $61.00 to $41.00 in a report on Thursday, July 21st. Finally, BMO Capital Markets reduced their target price on Bath & Body Works from $65.00 to $45.00 in a report on Thursday, July 21st. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus target price of $49.90.

Insider Activity at Bath & Body Works

In related news, insider Thomas E. Mazurek sold 16,338 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $42.25, for a total value of $690,280.50. Following the completion of the sale, the insider now directly owns 11,225 shares of the company’s stock, valued at $474,256.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

Bath & Body Works Stock Performance

NYSE:BBWI opened at $37.36 on Friday. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 3.73 and a beta of 1.82. Bath & Body Works, Inc. has a one year low of $25.75 and a one year high of $82.00. The business’s 50-day simple moving average is $32.76 and its 200 day simple moving average is $44.66.

Bath & Body Works (NYSE:BBWI – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Bath & Body Works had a negative return on equity of 69.03% and a net margin of 15.41%. On average, equities research analysts predict that Bath & Body Works, Inc. will post 2.64 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, June 2nd. Bath & Body Works’s dividend payout ratio is currently 17.43%.

Bath & Body Works Company Profile

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Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.