Los Angeles Capital Management LLC Has $4.30 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

by · The Cerbat Gem

Los Angeles Capital Management LLC raised its position in Bath & Body Works, Inc. (NYSE:BBWI – Free Report) by 404.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 134,544 shares of the company’s stock after purchasing an additional 107,868 shares during the period. Los Angeles Capital Management LLC’s holdings in Bath & Body Works were worth $4,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Bath & Body Works by 5.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock valued at $279,000 after buying an additional 277 shares in the last quarter. CWM LLC raised its holdings in Bath & Body Works by 6.6% in the 2nd quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after acquiring an additional 314 shares in the last quarter. Northwest Bank & Trust Co lifted its position in shares of Bath & Body Works by 2.5% during the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock valued at $655,000 after acquiring an additional 315 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Bath & Body Works by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after purchasing an additional 322 shares in the last quarter. Finally, Citizens & Northern Corp increased its position in shares of Bath & Body Works by 1.7% in the second quarter. Citizens & Northern Corp now owns 29,465 shares of the company’s stock worth $1,151,000 after purchasing an additional 487 shares during the period. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BBWI. Wells Fargo & Company cut their price objective on shares of Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley reduced their price target on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Barclays downgraded shares of Bath & Body Works from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $31.00 to $28.00 in a research report on Friday, November 8th. Bank of America reduced their target price 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. Finally, Citigroup lowered their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.44.

Check Out Our Latest Analysis on BBWI

Bath & Body Works Stock Performance

BBWI stock opened at $31.58 on Wednesday. The company has a market capitalization of $6.92 billion, a P/E ratio of 7.65, a PEG ratio of 0.95 and a beta of 1.79. The company has a fifty day moving average price of $30.04 and a 200-day moving average price of $36.67. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99.

Bath & Body Works (NYSE:BBWI – Get Free Report) last announced its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, sell-side analysts forecast that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is presently 19.37%.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction dated Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Bath & Body Works Company Profile

(Free Report)

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.

Further Reading

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