Bank of New York Mellon Corp Increases Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Bank of New York Mellon Corp raised its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 9.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,274,388 shares of the company's stock after buying an additional 203,724 shares during the period. Bank of New York Mellon Corp owned about 1.06% of Bath & Body Works worth $68,959,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Bath & Body Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock worth $1,093,306,000 after buying an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Bath & Body Works by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company's stock worth $396,815,000 after buying an additional 422,973 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Bath & Body Works by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company's stock worth $329,317,000 after buying an additional 445,887 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Bath & Body Works by 35.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock worth $200,768,000 after buying an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of Bath & Body Works by 38.3% in the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock worth $188,456,000 after buying an additional 1,346,752 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Stock Performance

Bath & Body Works stock traded down $0.69 during midday trading on Tuesday, hitting $31.21. 4,020,672 shares of the company's stock were exchanged, compared to its average volume of 5,243,247. The company has a market cap of $6.60 billion, a PE ratio of 8.32, a P/E/G ratio of 1.10 and a beta of 1.72. The firm has a 50-day moving average of $30.12 and a two-hundred day moving average of $32.42. Bath & Body Works, Inc. has a 12 month low of $24.94 and a 12 month high of $41.87.

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

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, June 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. Bath & Body Works's dividend payout ratio (DPR) is presently 21.33%.

Wall Street Analyst Weigh In

Several research firms recently commented on BBWI. Morgan Stanley reduced their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. UBS Group increased their target price on shares of Bath & Body Works from $32.00 to $36.00 and gave the company a "neutral" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. increased their target price on shares of Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 19th. The Goldman Sachs Group reduced their target price on shares of Bath & Body Works from $44.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Finally, Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the company an "overweight" rating in a report on Thursday, May 15th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Bath & Body Works currently has an average rating of "Moderate Buy" and an average price target of $42.00.

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.