Van ECK Associates Corp Has $5.52 Million Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Van ECK Associates Corp increased its position in Bath & Body Works, Inc. (NYSE:BBWI) by 93.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,461 shares of the company’s stock after buying an additional 68,266 shares during the period. Van ECK Associates Corp owned 0.06% of Bath & Body Works worth $5,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Bath & Body Works in the fourth quarter worth approximately $27,000. First Community Trust NA bought a new position in shares of Bath & Body Works in the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Bath & Body Works by 72.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after purchasing an additional 337 shares in the last quarter. Federated Hermes Inc. grew its position in Bath & Body Works by 17.1% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after purchasing an additional 235 shares during the period. Finally, TFO Wealth Partners LLC increased its stake in Bath & Body Works by 9,664.7% during the 4th quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock valued at $72,000 after purchasing an additional 1,643 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BBWI has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Raymond James cut their price target on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered their price objective on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their target price on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Bank of America lowered their price target on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $30.49 on Wednesday. Bath & Body Works, Inc. has a fifty-two week low of $27.30 and a fifty-two week high of $52.99. The company’s 50-day moving average is $35.03 and its 200 day moving average is $42.36. The company has a market capitalization of $6.81 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 1.04 and a beta of 1.85.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is 20.62%.

About Bath & Body Works

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.