Van ECK Associates Corp Has $2.46 Million Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Van ECK Associates Corp decreased its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 35.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,003 shares of the company’s stock after selling 30,833 shares during the quarter. Van ECK Associates Corp’s holdings in Bath & Body Works were worth $2,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BBWI. Front Row Advisors LLC acquired a new position in Bath & Body Works in the third quarter worth $25,000. Trust Co. of Vermont acquired a new position in Bath & Body Works in the third quarter worth $27,000. Denali Advisors LLC acquired a new position in Bath & Body Works in the fourth quarter worth $27,000. GAMMA Investing LLC acquired a new position in Bath & Body Works in the fourth quarter worth $27,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Bath & Body Works in the fourth quarter worth $35,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group boosted their price objective on Bath & Body Works from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. The Goldman Sachs Group boosted their target price on Bath & Body Works from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Piper Sandler boosted their target price on Bath & Body Works from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Evercore ISI boosted their target price on Bath & Body Works from $30.00 to $45.00 and gave the stock an “in-line” rating in a research report on Friday, March 1st. Finally, Robert W. Baird boosted their target price on Bath & Body Works from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.73.

Bath & Body Works Price Performance

BBWI stock opened at $47.22 on Wednesday. The stock has a market capitalization of $10.62 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.49 and a beta of 1.89. The business has a 50-day moving average of $46.09 and a 200-day moving average of $41.27. Bath & Body Works, Inc. has a fifty-two week low of $27.30 and a fifty-two week high of $50.34.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Thursday, February 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.85 by $0.21. Bath & Body Works had a negative return on equity of 37.01% and a net margin of 11.82%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the firm posted $1.86 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 annualized dividend and a yield of 1.69%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.78%.

Insider Activity at Bath & Body Works

In related news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total transaction of $209,493.65. Following the completion of the transaction, the insider now directly owns 45,992 shares of the company’s stock, valued at $2,248,548.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

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.