Golden State Wealth Management LLC Boosts Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Golden State Wealth Management LLC lifted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 94.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,320 shares of the company’s stock after acquiring an additional 642 shares during the period. Golden State Wealth Management LLC’s holdings in Bath & Body Works were worth $40,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BBWI. SRS Capital Advisors Inc. raised its position in shares of Bath & Body Works by 99.7% in 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 period. Lindbrook Capital LLC increased its stake in Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after buying an additional 431 shares during the period. Smartleaf Asset Management LLC increased its stake in Bath & Body Works by 135.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock worth $39,000 after buying an additional 582 shares during the period. UMB Bank n.a. increased its holdings in 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 holdings in 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. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BBWI shares. Morgan Stanley dropped their price target on shares of Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Citigroup boosted their price target on Bath & Body Works from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. The Goldman Sachs Group lowered their target price on Bath & Body Works from $44.00 to $43.00 and set a “buy” rating for the company in a report on Friday, May 30th. Raymond James Financial lowered their price objective on Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Finally, Piper Sandler set a $39.00 price objective on Bath & Body Works and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Bath & Body Works presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $32.15 on Wednesday. The firm has a 50 day simple moving average of $29.62 and a 200-day simple moving average of $32.82. The stock has a market capitalization of $6.80 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 1.08 and a beta of 1.72. Bath & Body Works, Inc. has a 12-month low of $24.94 and a 12-month high of $41.87.

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

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.20 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.49%. Bath & Body Works’s dividend payout ratio (DPR) is presently 21.33%.

About Bath & Body Works

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.