Algert Global LLC Buys 104,496 Shares of Bath & Body Works, Inc. $BBWI

Key Points

• Algert Global increased its Bath & Body Works stake by 26.2% in the second quarter, purchasing 104,496 additional shares to hold 503,264 shares valued at approximately $11.64 million. Institutional investors collectively own 95.14% of the company.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and a $22.57 target price, although Citigroup upgraded the shares to “Buy” and Wells Fargo raised its target to $26.
• BBWI shares opened at $17.58, down 8.3%, despite the company beating quarterly earnings and revenue estimates. Bath & Body Works also declared a quarterly dividend of $0.20 per share, representing a 4.6% annualized yield.

Algert Global LLC increased its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 503,264 shares of the company's stock after buying an additional 104,496 shares during the period. Algert Global LLC owned 0.25% of Bath & Body Works worth $11,640,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Bath & Body Works in the fourth quarter valued at about $31,000. Activest Wealth Management bought a new position in shares of Bath & Body Works during the fourth quarter worth approximately $32,000. Geneos Wealth Management Inc. increased its holdings in shares of Bath & Body Works by 217.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company's stock worth $35,000 after purchasing an additional 801 shares during the period. Parallel Advisors LLC raised its position in shares of Bath & Body Works by 42.6% in the fourth quarter. Parallel Advisors LLC now owns 1,897 shares of the company's stock valued at $38,000 after buying an additional 567 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Bath & Body Works in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BBWI. Raymond James Financial reaffirmed a "market perform" rating on shares of Bath & Body Works in a research note on Wednesday, May 27th. Wells Fargo & Company boosted their price target on Bath & Body Works from $25.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, June 23rd. Citigroup raised Bath & Body Works from a "neutral" rating to a "buy" rating and set a $25.00 price objective for the company in a research note on Tuesday, August 18th. JPMorgan Chase & Co. raised their price objective on shares of Bath & Body Works from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. Finally, UBS Group reissued a "neutral" rating on shares of Bath & Body Works in a report on Wednesday, August 19th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $22.57.

Bath & Body Works Stock Down 8.3%

Shares of BBWI stock opened at $17.58 on Wednesday. The firm has a 50 day moving average of $20.39 and a 200-day moving average of $20.03. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 4.94, a price-to-earnings-growth ratio of 1.89 and a beta of 1.38. Bath & Body Works, Inc. has a 52 week low of $14.27 and a 52 week high of $32.32.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Bath & Body Works had a net margin of 10.03% and a negative return on equity of 45.34%. Bath & Body Works's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. Analysts anticipate that Bath & Body Works, Inc. will post 2.63 earnings per share for the current year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, August 21st. Bath & Body Works's payout ratio is presently 22.47%.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.

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