Amalgamated Bank Raises Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Amalgamated Bank boosted its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 45.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,431 shares of the company's stock after acquiring an additional 31,029 shares during the period. Amalgamated Bank's holdings in Bath & Body Works were worth $3,015,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Bath & Body Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock valued at $1,093,306,000 after acquiring an additional 208,036 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 in the last quarter. Alliancebernstein L.P. grew its stake 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 in the last quarter. Finally, Anomaly Capital Management LP grew its stake 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 in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

Shares of NYSE:BBWI traded down $0.29 during trading hours on Monday, hitting $32.85. The company's stock had a trading volume of 5,673,078 shares, compared to its average volume of 5,191,987. Bath & Body Works, Inc. has a 52 week low of $24.94 and a 52 week high of $41.87. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 8.76, a P/E/G ratio of 1.11 and a beta of 1.72. The firm's fifty day moving average price is $29.87 and its 200 day moving average price is $32.61.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.49 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The company's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.20 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.44%. Bath & Body Works's dividend payout ratio is currently 21.33%.

Wall Street Analyst Weigh In

BBWI has been the subject of a number of recent research reports. Raymond James Financial dropped their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Morgan Stanley dropped their price objective on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the stock an "overweight" rating in a research note on Thursday, May 15th. 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. Finally, Citigroup raised their target price 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. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.00.

Bath & Body Works 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.