Bank of New York Mellon Corp Acquires 203,724 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Bank of New York Mellon Corp boosted its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,274,388 shares of the company's stock after purchasing an additional 203,724 shares during the quarter. 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.

Several other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bath & Body Works by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock worth $2,046,000 after buying an additional 12,964 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Bath & Body Works by 38.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,711 shares of the company's stock worth $1,265,000 after buying an additional 11,681 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Bath & Body Works by 5.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock worth $3,428,000 after buying an additional 4,625 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Bath & Body Works during the 4th quarter worth about $258,000. Finally, Merit Financial Group LLC bought a new stake in shares of Bath & Body Works during the 1st quarter worth about $714,000. 95.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BBWI has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price objective on shares of Bath & Body Works from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Barclays lowered their price objective on shares of Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. UBS Group lifted their price objective on shares of Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Finally, Raymond James Financial lowered their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bath & Body Works has an average rating of "Moderate Buy" and an average target price of $42.00.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI traded down $0.75 during mid-day trading on Friday, hitting $32.90. The stock had a trading volume of 5,319,464 shares, compared to its average volume of 5,237,615. The company has a market cap of $6.96 billion, a PE ratio of 8.77, a P/E/G ratio of 1.13 and a beta of 1.72. Bath & Body Works, Inc. has a 12-month low of $24.94 and a 12-month high of $41.87. The company's 50 day moving average is $30.08 and its 200-day moving average is $32.54.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.49 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 the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. On average, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Friday, June 6th. Bath & Body Works's payout ratio is presently 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.