Bath & Body Works, Inc. (NYSE:BBWI) Shares Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC increased its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,813 shares of the company’s stock after acquiring an additional 15,342 shares during the period. Redwood Investment Management LLC’s holdings in Bath & Body Works were worth $4,075,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BBWI. Anomaly Capital Management LP acquired a new stake in Bath & Body Works in the second quarter valued at $113,995,000. FMR LLC raised its stake in Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after buying an additional 2,501,828 shares in the last quarter. KBC Group NV raised its stake in Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after buying an additional 1,683,160 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Bath & Body Works in the third quarter valued at $50,483,000. Finally, Lone Pine Capital LLC raised its stake in Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after buying an additional 1,547,399 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Up 3.3 %

Shares of NYSE:BBWI opened at $38.11 on Thursday. The company has a market cap of $8.25 billion, a P/E ratio of 9.30, a PEG ratio of 1.38 and a beta of 1.83. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The company has a 50-day moving average price of $31.47 and a 200 day moving average price of $35.21.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the firm earned $0.48 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts expect that Bath & Body Works, Inc. will post 3.26 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.10%. Bath & Body Works’s payout ratio is 19.51%.

Insider Activity

In related news, CEO Gina Boswell acquired 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BBWI. Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Bath & Body Works in a report on Monday, November 25th. The Goldman Sachs Group dropped their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their price objective on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. TD Cowen raised their price objective on Bath & Body Works from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Bank of America dropped their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

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.