Allianz Asset Management GmbH Sells 18,366 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Key Points

• Allianz Asset Management GmbH reduced its stake in Bath & Body Works by 13.7%, holding 115,916 shares after selling 18,366 shares in Q1, with a total value of approximately $3.5 million.
• Bath & Body Works reported $0.49 earnings per share for the last quarter, exceeding expectations, though revenue fell slightly short of analyst estimates at $1.40 billion.
• The company announced a quarterly dividend of $0.20, reflecting a 2.59% yield, with a payout ratio of 21.33% as of the last report.

Allianz Asset Management GmbH trimmed its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 13.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 115,916 shares of the company's stock after selling 18,366 shares during the period. Allianz Asset Management GmbH owned approximately 0.05% of Bath & Body Works worth $3,515,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBWI. Golden State Wealth Management LLC lifted its holdings in shares of Bath & Body Works by 94.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,320 shares of the company's stock worth $40,000 after acquiring an additional 642 shares during the period. UMB Bank n.a. lifted its holdings in shares of Bath & Body Works by 65.9% during the 1st quarter. UMB Bank n.a. now owns 1,501 shares of the company's stock worth $46,000 after acquiring an additional 596 shares during the period. Ancora Advisors LLC bought a new position in shares of Bath & Body Works during the 4th quarter worth about $67,000. TD Private Client Wealth LLC increased its position in shares of Bath & Body Works by 44.3% during the 1st quarter. TD Private Client Wealth LLC now owns 3,305 shares of the company's stock worth $100,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Bath & Body Works during the 4th quarter worth about $122,000. 95.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BBWI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Bath & Body Works from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. increased their target price on shares of Bath & Body Works from $40.00 to $46.00 and gave the stock an "overweight" rating in a research report on Monday. Telsey Advisory Group reiterated an "outperform" rating and set a $38.00 target price (down previously from $43.00) on shares of Bath & Body Works in a research report on Thursday, May 29th. Citigroup increased their target price on shares of Bath & Body Works from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Barclays dropped their target price on shares of Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bath & Body Works presently has a consensus rating of "Moderate Buy" and an average target price of $42.19.

Bath & Body Works Price Performance

Shares of NYSE BBWI traded down $1.14 during mid-day trading on Thursday, hitting $28.91. The company's stock had a trading volume of 4,677,236 shares, compared to its average volume of 4,419,431. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 1.00 and a beta of 1.72. Bath & Body Works, Inc. has a one year low of $24.94 and a one year high of $41.87. The company's fifty day simple moving average is $29.85 and its 200-day simple moving average is $31.94.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.42 billion. Bath & Body Works had a net margin of 11.10% and a negative return on equity of 47.44%. The company's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. On average, sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, June 6th. Bath & Body Works's dividend payout ratio (DPR) is 21.33%.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America's Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.