Norges Bank Purchases Shares of 2,355,641 Bath & Body Works, Inc. (NYSE:BBWI)

Norges Bank acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,355,641 shares of the company’s stock, valued at approximately $101,669,000. Norges Bank owned approximately 1.04% of Bath & Body Works as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BBWI. Denali Advisors LLC purchased a new stake in Bath & Body Works in the 4th quarter worth about $27,000. GAMMA Investing LLC acquired a new stake in shares of Bath & Body Works during the fourth quarter worth approximately $27,000. Front Row Advisors LLC purchased a new position in Bath & Body Works during the third quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in Bath & Body Works in the 3rd quarter valued at approximately $27,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Bath & Body Works in the 4th quarter worth approximately $35,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Trading Down 0.1 %

Shares of BBWI stock opened at $48.28 on Friday. The firm has a fifty day simple moving average of $46.95 and a two-hundred day simple moving average of $42.95. Bath & Body Works, Inc. has a 12 month low of $27.30 and a 12 month high of $50.82. The firm has a market capitalization of $10.80 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.55 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.21. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts predict that Bath & Body Works, Inc. will post 3.33 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.66%. Bath & Body Works’s dividend payout ratio (DPR) is currently 20.78%.

Insiders Place Their Bets

In related news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction dated Wednesday, March 27th. The shares were 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 owns 45,992 shares in the company, valued at $2,248,548.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on BBWI shares. TD Cowen increased their price target on shares of Bath & Body Works from $35.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. BMO Capital Markets upped their price target on Bath & Body Works from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 target price on shares of Bath & Body Works in a research report on Friday, April 5th. Evercore ISI increased their price target on Bath & Body Works from $30.00 to $45.00 and gave the company an “in-line” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded Bath & Body Works from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $40.00 to $53.00 in a report on Friday, May 17th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.57.

About Bath & Body Works

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.