Bath & Body Works, Inc. (NYSE:BBWI) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its position in Bath & Body Works, Inc. (NYSE:BBWI) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,749 shares of the company’s stock after purchasing an additional 4,695 shares during the period. California State Teachers Retirement System owned 0.15% of Bath & Body Works worth $17,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Bath & Body Works in the fourth quarter valued at approximately $101,669,000. Lone Pine Capital LLC raised its stake in Bath & Body Works by 20.0% during the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock worth $450,973,000 after acquiring an additional 1,742,471 shares in the last quarter. Sound Shore Management Inc. CT lifted its position in Bath & Body Works by 379.2% in the fourth quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock valued at $82,145,000 after acquiring an additional 1,506,110 shares during the last quarter. Cadian Capital Management LP acquired a new position in Bath & Body Works in the fourth quarter valued at $58,266,000. Finally, Vanguard Group Inc. grew its holdings in shares of Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after purchasing an additional 1,102,124 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

Shares of NYSE BBWI opened at $33.52 on Friday. The firm’s 50 day moving average price is $41.00 and its 200 day moving average price is $44.09. The firm has a market cap of $7.48 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 1.21 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 earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, equities analysts predict that Bath & Body Works, Inc. will post 3.29 EPS for the current year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, June 7th. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BBWI shares. JPMorgan Chase & Co. raised Bath & Body Works from an “underweight” rating to a “neutral” rating and upped their target price for the company from $40.00 to $53.00 in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bath & Body Works from $53.00 to $57.00 in a report on Monday, June 3rd. Wells Fargo & Company decreased their price target on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. BMO Capital Markets increased their price objective on Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 5th. Finally, Piper Sandler cut 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 report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Hold” and a consensus target price of $47.60.

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.