Public Sector Pension Investment Board Boosts Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Public Sector Pension Investment Board raised its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 4,401.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 444,452 shares of the company’s stock after acquiring an additional 434,578 shares during the quarter. Public Sector Pension Investment Board’s holdings in Bath & Body Works were worth $14,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BBWI. Anomaly Capital Management LP purchased a new position in Bath & Body Works during the second quarter valued at $113,995,000. FMR LLC lifted its holdings in Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after purchasing an additional 2,501,828 shares in the last quarter. KBC Group NV lifted its holdings in Bath & Body Works by 9,023.5% during the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. Lone Pine Capital LLC lifted its holdings in Bath & Body Works by 15.8% during the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after purchasing an additional 1,547,399 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Bath & Body Works by 723.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock valued at $37,268,000 after purchasing an additional 1,025,757 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

Shares of BBWI opened at $35.90 on Friday. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The stock has a market cap of $7.78 billion, a PE ratio of 8.76, a P/E/G ratio of 1.35 and a beta of 1.79. The firm has a 50-day simple moving average of $30.93 and a two-hundred day simple moving average of $35.65.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. As a group, sell-side analysts expect that Bath & Body Works, Inc. will post 3.24 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s dividend payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BBWI shares. The Goldman Sachs Group decreased their price target on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Piper Sandler raised their price target on shares of Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of Bath & Body Works from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup decreased their price target on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Finally, TD Cowen raised their price target on shares of Bath & Body Works from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

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.