Mutual of America Capital Management LLC Acquires 78,280 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Key Points

• Mutual of America Capital Management LLC increased its holdings in Bath & Body Works by 235.8% during the 1st quarter, now owning approximately 111,471 shares valued at about $3.38 million.
• Bath & Body Works reported $0.49 earnings per share for its last quarter, exceeding analysts' expectations of $0.47, with revenue of $1.40 billion.
• The company announced a quarterly dividend of $0.20 per share, resulting in a 2.8% annual yield and a payout ratio of 21.33%.

Mutual of America Capital Management LLC increased its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 235.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,471 shares of the company's stock after buying an additional 78,280 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Bath & Body Works worth $3,380,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BBWI. Wealth Enhancement Advisory Services LLC lifted its holdings in Bath & Body Works by 38.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,711 shares of the company's stock worth $1,265,000 after purchasing an additional 11,681 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Bath & Body Works in the 4th quarter worth approximately $258,000. Merit Financial Group LLC acquired a new stake in Bath & Body Works in the 1st quarter worth approximately $714,000. Nuveen Asset Management LLC grew its holdings in Bath & Body Works by 3.7% in the 4th quarter. Nuveen Asset Management LLC now owns 764,195 shares of the company's stock valued at $29,628,000 after buying an additional 27,136 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Bath & Body Works by 3,642.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,651,109 shares of the company's stock valued at $50,062,000 after buying an additional 1,606,988 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Bath & Body Works Stock Performance

Bath & Body Works stock traded down $0.73 during midday trading on Thursday, reaching $28.88. The stock had a trading volume of 1,928,390 shares, compared to its average volume of 5,093,606. The firm's fifty day simple moving average is $29.84 and its 200-day simple moving average is $31.42. Bath & Body Works, Inc. has a 1-year low of $24.94 and a 1-year high of $41.87. The stock has a market capitalization of $6.11 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 0.95 and a beta of 1.54.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its 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 negative return on equity of 47.44% and a net margin of 11.10%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $0.38 EPS. Bath & Body Works's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.80 annualized dividend and a yield of 2.8%. Bath & Body Works's dividend payout ratio is 21.33%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BBWI. Wall Street Zen lowered Bath & Body Works from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $38.00 target price (down previously from $43.00) on shares of Bath & Body Works in a report on Thursday, May 29th. Citigroup boosted their price objective on shares of Bath & Body Works from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price objective on shares of Bath & Body Works from $40.00 to $46.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the stock an "overweight" rating in a report on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.19.

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.