Shell Asset Management Co. Trims Position in Bath & Body Works, Inc. (NYSE:BBWI)

Shell Asset Management Co. lowered its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 35.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,037 shares of the company’s stock after selling 15,941 shares during the period. Shell Asset Management Co.’s holdings in Bath & Body Works were worth $1,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BBWI. Wellington Management Group LLP increased its position in Bath & Body Works by 22.0% during the third quarter. Wellington Management Group LLP now owns 114,601 shares of the company’s stock worth $3,874,000 after purchasing an additional 20,703 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Bath & Body Works by 18.0% in the 4th quarter. SG Americas Securities LLC now owns 17,860 shares of the company’s stock worth $771,000 after buying an additional 2,724 shares during the period. Douglas Lane & Associates LLC acquired a new position in Bath & Body Works in the fourth quarter valued at $211,000. Assenagon Asset Management S.A. boosted its holdings in Bath & Body Works by 5,449.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 395,942 shares of the company’s stock valued at $17,089,000 after acquiring an additional 388,807 shares during the last quarter. Finally, Everett Harris & Co. CA grew its position in Bath & Body Works by 16.3% during the fourth quarter. Everett Harris & Co. CA now owns 46,467 shares of the company’s stock valued at $2,006,000 after acquiring an additional 6,521 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BBWI shares. Piper Sandler decreased their price target on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 target price on shares of Bath & Body Works in a report on Tuesday, June 4th. JPMorgan Chase & Co. raised Bath & Body Works from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $40.00 to $53.00 in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bath & Body Works from $53.00 to $57.00 in a research report on Monday, June 3rd. Finally, BMO Capital Markets boosted their target price on shares of Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 5th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works has a consensus rating of “Hold” and an average price target of $47.60.

Bath & Body Works Stock Performance

Shares of BBWI traded up $0.92 during midday trading on Friday, hitting $34.05. 993,680 shares of the stock traded hands, compared to its average volume of 2,891,446. The business’s 50 day moving average price is $42.40 and its two-hundred day moving average price is $44.38. The firm has a market capitalization of $7.60 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.85. Bath & Body Works, Inc. has a 1-year low of $27.30 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. Bath & Body Works’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. As a group, equities research analysts forecast that Bath & Body Works, Inc. will post 3.29 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 21st. Shareholders of record on Friday, June 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Friday, June 7th. Bath & Body Works’s payout ratio is 20.62%.

Bath & Body Works Company 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.