Fmr LLC Raises Position in Bath & Body Works, Inc. (NYSE:BBWI)

Fmr LLC grew its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 17,496.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,516,127 shares of the company’s stock after buying an additional 2,501,828 shares during the quarter. Fmr LLC’s holdings in Bath & Body Works were worth $80,315,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BBWI. GAMMA Investing LLC lifted its stake in shares of Bath & Body Works by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after purchasing an additional 730 shares during the period. CWM LLC increased its position in shares of Bath & Body Works by 6.6% during the second quarter. CWM LLC now owns 5,072 shares of the company’s stock worth $198,000 after acquiring an additional 314 shares during the period. QRG Capital Management Inc. lifted its stake in Bath & Body Works by 3.5% in the second quarter. QRG Capital Management Inc. now owns 51,923 shares of the company’s stock worth $2,028,000 after acquiring an additional 1,775 shares during the period. Czech National Bank lifted its holdings in Bath & Body Works by 7.2% during the second quarter. Czech National Bank now owns 42,622 shares of the company’s stock worth $1,664,000 after buying an additional 2,868 shares during the period. Finally, First Community Trust NA bought a new stake in shares of Bath & Body Works in the 2nd quarter valued at about $30,000. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BBWI. Piper Sandler upped their target price on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company increased their price objective on shares of Bath & Body Works from $32.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, November 26th. Robert W. Baird decreased their price objective on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Barclays increased their price target on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Insider Activity at Bath & Body Works

In related news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

Bath & Body Works Price Performance

BBWI stock opened at $36.78 on Friday. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The company has a 50-day moving average of $31.62 and a two-hundred day moving average of $35.23. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.38 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company earned $0.48 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts expect that Bath & Body Works, Inc. will post 3.26 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.18%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Bath & Body Works Profile

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.