BlackRock Inc. acquired a new stake in shares of Bath & Body Works Inc (NYSE:BBWI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,788,482 shares of the company’s stock, valued at approximately $1,184,238,000. BlackRock Inc. owned approximately 7.11% of Bath & Body Works as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new position in Bath & Body Works during the third quarter valued at $4,523,000. Three Peaks Capital Management LLC acquired a new stake in shares of Bath & Body Works in the third quarter valued at about $2,321,000. State of Alaska Department of Revenue acquired a new stake in shares of Bath & Body Works in the third quarter valued at about $2,564,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Bath & Body Works in the third quarter valued at about $6,309,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Bath & Body Works in the third quarter valued at about $1,925,000. 92.30% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Bath & Body Works from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, November 18th. Atlantic Securities upgraded shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and set a $82.00 price objective for the company in a research report on Monday, September 27th. Zacks Investment Research cut shares of Bath & Body Works from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Telsey Advisory Group raised their price objective on shares of Bath & Body Works from $85.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, November 18th. Finally, UBS Group lifted their price target on shares of Bath & Body Works from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, November 19th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $86.63.
Shares of Bath & Body Works stock opened at $55.83 on Friday. Bath & Body Works Inc has a 52-week low of $29.17 and a 52-week high of $82.00. The business has a 50 day moving average price of $70.92. The stock has a market capitalization of $14.39 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.69 and a beta of 1.70.
Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Wednesday, November 17th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.32. Bath & Body Works had a net margin of 14.24% and a negative return on equity of 165.36%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Bath & Body Works Inc will post 4.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 3rd. Stockholders of record on Friday, November 19th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 18th. This represents a $0.60 annualized dividend and a dividend yield of 1.07%. Bath & Body Works’s dividend payout ratio is presently 10.58%.
In other news, Director Robert H. Schottenstein sold 5,375 shares of the business’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $74.52, for a total transaction of $400,545.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.31% of the stock is currently owned by insiders.
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.
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