Envestnet Asset Management Inc. Raises Position in Bath & Body Works, Inc. $BBWI

Envestnet Asset Management Inc. lifted its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 159,696 shares of the company’s stock after purchasing an additional 22,732 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Bath & Body Works worth $4,114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its position in Bath & Body Works by 58.8% in the third quarter. Allianz Asset Management GmbH now owns 263,628 shares of the company’s stock worth $6,791,000 after buying an additional 97,640 shares during the last quarter. Access Investment Management LLC bought a new stake in shares of Bath & Body Works in the 3rd quarter worth about $3,506,000. Keybank National Association OH boosted its stake in shares of Bath & Body Works by 19.1% during the 3rd quarter. Keybank National Association OH now owns 10,037 shares of the company’s stock worth $259,000 after purchasing an additional 1,607 shares during the period. AlphaQuest LLC purchased a new position in shares of Bath & Body Works during the 3rd quarter worth about $586,000. Finally, Everett Harris & Co. CA grew its holdings in Bath & Body Works by 3.9% during the 3rd quarter. Everett Harris & Co. CA now owns 101,965 shares of the company’s stock valued at $2,627,000 after purchasing an additional 3,853 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BBWI shares. Bank of America set a $26.00 price objective on shares of Bath & Body Works in a research note on Monday, November 24th. Guggenheim assumed coverage on Bath & Body Works in a report on Tuesday, December 9th. They set a “neutral” rating for the company. UBS Group upped their price objective on Bath & Body Works from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday. Raymond James Financial reiterated a “market perform” rating on shares of Bath & Body Works in a research report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Bath & Body Works from $26.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.29.

Bath & Body Works Trading Down 7.7%

Shares of BBWI stock opened at $22.51 on Tuesday. Bath & Body Works, Inc. has a twelve month low of $14.27 and a twelve month high of $41.87. The stock has a fifty day simple moving average of $21.87 and a two-hundred day simple moving average of $23.84. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 6.93, a P/E/G ratio of 1.07 and a beta of 1.54.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. Bath & Body Works’s dividend payout ratio is 24.62%.

Bath & Body Works Profile

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.