Quantbot Technologies LP Invests $1.25 Million in Bath & Body Works, Inc. $BBWI

Quantbot Technologies LP purchased a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 54,267 shares of the company’s stock, valued at approximately $1,255,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BBWI. BlackRock Inc. purchased a new stake in shares of Bath & Body Works during the 2nd quarter valued at $449,065,000. AQR Capital Management LLC boosted its holdings in shares of Bath & Body Works by 132.5% in the 4th quarter. AQR Capital Management LLC now owns 11,445,928 shares of the company’s stock worth $229,834,000 after buying an additional 6,523,960 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Bath & Body Works by 5.8% in the 2nd quarter. Alliancebernstein L.P. now owns 5,737,796 shares of the company’s stock worth $171,904,000 after buying an additional 315,738 shares during the last quarter. Geode Capital Management LLC grew its position in Bath & Body Works by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,960,475 shares of the company’s stock valued at $79,542,000 after buying an additional 110,602 shares during the period. Finally, Bank of America Corp DE grew its position in Bath & Body Works by 86.9% during the third quarter. Bank of America Corp DE now owns 3,399,390 shares of the company’s stock valued at $87,568,000 after buying an additional 1,580,176 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 8.3%

Shares of BBWI stock opened at $17.58 on Wednesday. The firm’s 50 day moving average is $20.39 and its 200 day moving average is $20.03. The stock has a market capitalization of $3.54 billion, a P/E ratio of 4.94, a PEG ratio of 1.89 and a beta of 1.38. Bath & Body Works, Inc. has a 12 month low of $14.27 and a 12 month high of $32.32.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Bath & Body Works had a net margin of 10.03% and a negative return on equity of 45.34%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned $0.49 EPS. Bath & Body Works’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts predict that Bath & Body Works, Inc. will post 2.63 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a $0.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. Bath & Body Works’s payout ratio is 22.47%.

Analysts Set New Price Targets

Several brokerages have commented on BBWI. UBS Group reaffirmed a “neutral” rating on shares of Bath & Body Works in a research report on Wednesday, August 19th. JPMorgan Chase & Co. increased their target price on shares of Bath & Body Works from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Barclays decreased their price target on shares of Bath & Body Works from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, May 28th. Wells Fargo & Company lifted their price target on shares of Bath & Body Works from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group downgraded Bath & Body Works from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $23.00 to $19.00 in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Hold” and an average price target of $22.57.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.