Assenagon Asset Management S.A. Acquires New Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Assenagon Asset Management S.A. acquired a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWIGet Rating) in the third quarter, HoldingsChannel.com reports. The firm acquired 35,290 shares of the company’s stock, valued at approximately $1,150,000.

A number of other hedge funds also recently bought and sold shares of the company. Achmea Investment Management B.V. increased its position in Bath & Body Works by 24.1% during the third quarter. Achmea Investment Management B.V. now owns 125,906 shares of the company’s stock valued at $4,105,000 after acquiring an additional 24,465 shares during the last quarter. Kwmg LLC grew its holdings in Bath & Body Works by 7.7% during the third quarter. Kwmg LLC now owns 94,400 shares of the company’s stock valued at $3,077,000 after purchasing an additional 6,715 shares during the period. Wipfli Financial Advisors LLC bought a new stake in Bath & Body Works during the third quarter valued at about $66,000. Janney Montgomery Scott LLC bought a new stake in Bath & Body Works during the third quarter valued at about $479,000. Finally, Texas Permanent School Fund grew its holdings in Bath & Body Works by 2.1% during the third quarter. Texas Permanent School Fund now owns 32,172 shares of the company’s stock valued at $1,049,000 after purchasing an additional 671 shares during the period. Hedge funds and other institutional investors own 96.34% of the company’s stock.

Bath & Body Works Trading Up 1.1 %

Shares of Bath & Body Works stock opened at $46.66 on Friday. The stock has a 50 day moving average of $40.91 and a 200 day moving average of $36.76. Bath & Body Works, Inc. has a 12 month low of $25.75 and a 12 month high of $62.26. The firm has a market cap of $10.66 billion, a PE ratio of 12.15, a PEG ratio of 1.01 and a beta of 1.67.

Bath & Body Works (NYSE:BBWIGet Rating) last announced its quarterly earnings results on Wednesday, November 16th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.21. Bath & Body Works had a negative return on equity of 40.90% and a net margin of 12.48%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.56 billion. As a group, equities research analysts forecast that Bath & Body Works, Inc. will post 3.15 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Friday, November 18th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.71%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.83%.

Wall Street Analysts Forecast Growth

BBWI has been the subject of several recent research reports. Bank of America boosted their price target on Bath & Body Works from $48.00 to $50.00 in a report on Thursday, November 17th. Piper Sandler boosted their price target on Bath & Body Works from $50.00 to $52.00 in a report on Tuesday, January 3rd. Morgan Stanley boosted their price target on Bath & Body Works from $72.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, November 17th. Barclays cut their price target on Bath & Body Works to $39.00 in a report on Monday, November 21st. Finally, JPMorgan Chase & Co. upped their price objective on Bath & Body Works from $40.00 to $43.00 in a research note on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.52.

About Bath & Body Works

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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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