EverSource Wealth Advisors LLC increased its holdings in Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 490.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 585 shares of the company’s stock after buying an additional 486 shares during the period. EverSource Wealth Advisors LLC’s holdings in Bath & Body Works were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Bath & Body Works in the fourth quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. lifted its stake in Bath & Body Works by 119.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 525 shares of the company’s stock valued at $26,000 after purchasing an additional 286 shares during the last quarter. Prospera Financial Services Inc purchased a new position in Bath & Body Works in the first quarter valued at approximately $25,000. Alpha Paradigm Partners LLC purchased a new position in Bath & Body Works in the fourth quarter valued at approximately $40,000. Finally, First Horizon Advisors Inc. lifted its stake in Bath & Body Works by 361.4% in the first quarter. First Horizon Advisors Inc. now owns 646 shares of the company’s stock valued at $31,000 after purchasing an additional 506 shares during the last quarter. 96.19% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Wells Fargo & Company upped their price objective on Bath & Body Works from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. BMO Capital Markets upped their price objective on Bath & Body Works from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Wedbush downgraded Bath & Body Works to an “underperform” rating in a research report on Monday, August 22nd. Robert W. Baird increased their target price on Bath & Body Works from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Finally, The Goldman Sachs Group increased their target price on Bath & Body Works from $32.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, August 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.52.
Bath & Body Works Stock Up 1.2 %
Bath & Body Works (NYSE:BBWI – Get Rating) last released its earnings results on Wednesday, August 17th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. Bath & Body Works had a negative return on equity of 52.60% and a net margin of 12.31%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, equities analysts anticipate that Bath & Body Works, Inc. will post 2.88 earnings per share for the current year.
Bath & Body Works Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.12%. Bath & Body Works’s dividend payout ratio (DPR) is currently 21.22%.
About Bath & Body Works
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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