Steward Partners Investment Advisory LLC Trims Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Steward Partners Investment Advisory LLC decreased its position in shares of Bath & Body Works, Inc. (NYSE:BBWIGet Rating) by 11.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,062 shares of the company’s stock after selling 533 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Bath & Body Works were worth $194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Bath & Body Works in the 4th quarter worth approximately $30,000. Alpha Paradigm Partners LLC bought a new stake in shares of Bath & Body Works in the 4th quarter worth approximately $40,000. CWM LLC bought a new stake in shares of Bath & Body Works in the 4th quarter worth approximately $42,000. CVA Family Office LLC boosted its position in shares of Bath & Body Works by 153.4% in the 1st quarter. CVA Family Office LLC now owns 735 shares of the company’s stock worth $35,000 after purchasing an additional 445 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Bath & Body Works by 56.4% in the 1st quarter. Signaturefd LLC now owns 1,084 shares of the company’s stock worth $52,000 after purchasing an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Insiders Place Their Bets

In other Bath & Body Works news, insider Thomas E. Mazurek sold 16,338 shares of the stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $42.25, for a total transaction of $690,280.50. Following the completion of the transaction, the insider now owns 11,225 shares of the company’s stock, valued at approximately $474,256.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup lowered their price objective on Bath & Body Works from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. BMO Capital Markets lowered their price objective on Bath & Body Works from $65.00 to $45.00 in a research report on Thursday, July 21st. Raymond James assumed coverage on Bath & Body Works in a research report on Tuesday, July 12th. They issued a “strong-buy” rating and a $45.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on Bath & Body Works from $37.00 to $32.00 in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. cut Bath & Body Works from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $63.00 to $30.00 in a research report on Wednesday, June 29th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.82.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $35.54 on Monday. Bath & Body Works, Inc. has a 52-week low of $25.75 and a 52-week high of $82.00. The firm has a market capitalization of $8.13 billion, a PE ratio of 7.74, a PEG ratio of 3.05 and a beta of 1.72. The stock has a fifty day simple moving average of $32.84 and a two-hundred day simple moving average of $45.09.

Bath & Body Works (NYSE:BBWIGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. Bath & Body Works had a negative return on equity of 69.03% and a net margin of 15.41%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, sell-side analysts forecast that Bath & Body Works, Inc. will post 2.79 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.25%. Bath & Body Works’s payout ratio is presently 17.43%.

Bath & Body Works Profile

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Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.

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Institutional Ownership by Quarter for Bath & Body Works (NYSE:BBWI)

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