Picton Mahoney Asset Management Has $2.08 Million Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Picton Mahoney Asset Management grew its position in Bath & Body Works, Inc. (NYSE:BBWI) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,150 shares of the company’s stock after purchasing an additional 6,675 shares during the quarter. Picton Mahoney Asset Management’s holdings in Bath & Body Works were worth $2,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BBWI. TD Asset Management Inc grew its holdings in Bath & Body Works by 3.7% in the 4th quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock valued at $42,136,000 after buying an additional 35,261 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Bath & Body Works by 28.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after acquiring an additional 56,764 shares in the last quarter. Russell Investments Group Ltd. increased its position in Bath & Body Works by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock worth $6,572,000 after acquiring an additional 41,995 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Bath & Body Works in the 4th quarter worth about $1,618,000. Finally, Vanguard Group Inc. boosted its holdings in Bath & Body Works by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after purchasing an additional 1,102,124 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Price Performance

BBWI stock traded down $0.24 during trading on Friday, reaching $30.76. 5,164,131 shares of the company were exchanged, compared to its average volume of 4,448,593. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 1.04 and a beta of 1.85. The company has a 50-day moving average of $35.46 and a two-hundred day moving average of $42.58. Bath & Body Works, Inc. has a twelve month low of $27.30 and a twelve month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly 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. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts forecast that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, August 23rd. Bath & Body Works’s payout ratio is 20.62%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Robert W. Baird lowered their target price on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their price objective on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and set a $50.00 target price (down from $52.00) on shares of Bath & Body Works in a research report on Thursday. Piper Sandler reduced their target price on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, The Goldman Sachs Group dropped their price target on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

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.