SG Americas Securities LLC Invests $1.08 Million in Bath & Body Works, Inc. (NYSE:BBWI)

SG Americas Securities LLC bought a new stake in Bath & Body Works, Inc. (NYSE:BBWI) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 35,601 shares of the company’s stock, valued at approximately $1,079,000.

Other hedge funds have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its stake in shares of Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after buying an additional 329 shares during the last quarter. Lindbrook Capital LLC boosted its position in Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after purchasing an additional 431 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Bath & Body Works by 135.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock valued at $39,000 after purchasing an additional 582 shares in the last quarter. UMB Bank n.a. increased its position in shares of Bath & Body Works by 65.9% during the 1st quarter. UMB Bank n.a. now owns 1,501 shares of the company’s stock worth $46,000 after purchasing an additional 596 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Bath & Body Works by 109.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,629 shares of the company’s stock worth $63,000 after purchasing an additional 852 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Bath & Body Works from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. The Goldman Sachs Group decreased their price objective on shares of Bath & Body Works from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Barclays dropped their target price on shares of Bath & Body Works from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the company an “overweight” rating in a research note on Thursday, May 15th. Finally, Cowen reiterated a “buy” rating on shares of Bath & Body Works in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Bath & Body Works Stock Up 5.2%

Shares of Bath & Body Works stock opened at $27.18 on Wednesday. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 0.92 and a beta of 1.72. Bath & Body Works, Inc. has a twelve month low of $24.94 and a twelve month high of $42.63. The company has a 50-day simple moving average of $29.43 and a two-hundred day simple moving average of $33.42.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.42 billion. Bath & Body Works had a net margin of 11.10% and a negative return on equity of 47.44%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. On average, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Friday, June 6th. Bath & Body Works’s payout ratio is presently 21.33%.

Bath & Body Works Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.