Federated Hermes Inc. Raises Position in Bath & Body Works, Inc. (NYSE:BBWI)

Federated Hermes Inc. grew its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,612 shares of the company’s stock after buying an additional 235 shares during the quarter. Federated Hermes Inc.’s holdings in Bath & Body Works were worth $70,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Front Row Advisors LLC bought a new position in Bath & Body Works during the 3rd quarter worth approximately $25,000. Trust Co. of Vermont purchased a new stake in shares of Bath & Body Works during the third quarter valued at approximately $27,000. Denali Advisors LLC purchased a new position in shares of Bath & Body Works in the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Bath & Body Works during the 4th quarter valued at $35,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Bath & Body Works during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total transaction of $209,493.65. Following the transaction, the insider now directly owns 45,992 shares of the company’s stock, valued at approximately $2,248,548.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BBWI shares. The Goldman Sachs Group boosted their price objective on shares of Bath & Body Works from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 price target on shares of Bath & Body Works in a research note on Friday, April 5th. BMO Capital Markets boosted their price objective on shares of Bath & Body Works from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. TD Cowen lifted their target price on shares of Bath & Body Works from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, UBS Group increased their price target on shares of Bath & Body Works from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Bath & Body Works has a consensus rating of “Hold” and an average price target of $46.73.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $47.38 on Tuesday. The company has a 50-day simple moving average of $46.07 and a two-hundred day simple moving average of $41.15. The stock has a market capitalization of $10.66 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.49 and a beta of 1.89. Bath & Body Works, Inc. has a 52-week low of $27.30 and a 52-week high of $50.34.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Thursday, February 29th. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.21. Bath & Body Works had a negative return on equity of 37.01% and a net margin of 11.82%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.69%. The ex-dividend date was Thursday, February 22nd. Bath & Body Works’s dividend payout ratio is currently 20.78%.

Bath & Body Works Profile

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