Westwood Holdings Group Inc. Acquires New Shares in Bath & Body Works, Inc. (NYSE:BBWI)

Westwood Holdings Group Inc. acquired a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,245 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds also recently modified their holdings of BBWI. GAMMA Investing LLC acquired a new position in Bath & Body Works during the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of Bath & Body Works by 72.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after purchasing an additional 337 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bath & Body Works in the 4th quarter valued at about $35,000. EntryPoint Capital LLC lifted its stake in shares of Bath & Body Works by 224.0% in the 1st quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after purchasing an additional 1,017 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Bath & Body Works by 17.1% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after purchasing an additional 235 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Price Performance

Shares of NYSE BBWI traded down $1.93 during midday trading on Friday, reaching $33.20. The company’s stock had a trading volume of 4,421,169 shares, compared to its average volume of 3,435,065. Bath & Body Works, Inc. has a 12-month low of $27.30 and a 12-month high of $52.99. The firm has a 50 day moving average price of $40.70 and a 200-day moving average price of $44.02. The stock has a market capitalization of $7.41 billion, a P/E ratio of 8.55, a PEG ratio of 1.16 and a beta of 1.85.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s revenue was down .9% compared to the same quarter last year. On average, equities analysts predict that Bath & Body Works, Inc. will post 3.29 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 annualized dividend and a yield of 2.41%. Bath & Body Works’s payout ratio is 20.62%.

Analyst Upgrades and Downgrades

BBWI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised Bath & Body Works from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $40.00 to $53.00 in a research note on Friday, May 17th. Wells Fargo & Company dropped 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. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a research report on Tuesday, June 4th. Piper Sandler decreased their target price on 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. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Bath & Body Works from $53.00 to $57.00 in a research report on Monday, June 3rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.60.

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.