Steward Partners Investment Advisory LLC cut its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 11.6% during the first quarter, HoldingsChannel.com reports. The fund owned 4,062 shares of the company’s stock after selling 533 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Bath & Body Works were worth $194,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Bath & Body Works during the fourth quarter worth approximately $30,000. CVA Family Office LLC increased its position in shares of Bath & Body Works by 153.4% during the first quarter. CVA Family Office LLC now owns 735 shares of the company’s stock worth $35,000 after acquiring an additional 445 shares during the period. Alpha Paradigm Partners LLC purchased a new position in Bath & Body Works during the fourth quarter valued at approximately $40,000. CWM LLC purchased a new position in Bath & Body Works during the fourth quarter valued at approximately $42,000. Finally, Signaturefd LLC increased its holdings in Bath & Body Works by 56.4% during the first quarter. Signaturefd LLC now owns 1,084 shares of the company’s stock valued at $52,000 after buying an additional 391 shares during the period. 97.11% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Bath & Body Works
In other Bath & Body Works news, insider Thomas E. Mazurek sold 16,338 shares of Bath & Body Works stock in a transaction on Friday, May 27th. The shares were sold at an average price of $42.25, for a total value of $690,280.50. Following the completion of the transaction, the insider now owns 11,225 shares of the company’s stock, valued at $474,256.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.
Bath & Body Works Price Performance
Bath & Body Works (NYSE:BBWI – Get Rating) last posted its earnings results on Wednesday, May 18th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Bath & Body Works had a net margin of 15.41% and a negative return on equity of 69.03%. Research analysts expect that Bath & Body Works, Inc. will post 2.79 earnings per share for the current year.
Bath & Body Works Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.25%. Bath & Body Works’s dividend payout ratio is presently 17.43%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Bath & Body Works from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, July 21st. Piper Sandler cut their price objective on shares of Bath & Body Works to $44.00 in a report on Friday, July 22nd. TheStreet lowered shares of Bath & Body Works from a “c+” rating to a “d” rating in a report on Friday, June 3rd. Raymond James initiated coverage on shares of Bath & Body Works in a report on Tuesday, July 12th. They set a “strong-buy” rating and a $45.00 price objective on the stock. Finally, Wells Fargo & Company cut their price target on shares of Bath & Body Works from $70.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and an average price target of $50.82.
Bath & Body Works Company Profile
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.
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