Principal Financial Group Inc. decreased its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 46.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 574,594 shares of the company's stock after selling 507,383 shares during the period. Principal Financial Group Inc. owned about 0.27% of Bath & Body Works worth $17,422,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised 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 valued at $40,000 after purchasing an additional 642 shares in the last quarter. UMB Bank n.a. raised 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 valued at $46,000 after purchasing an additional 596 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Bath & Body Works by 109.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,629 shares of the company's stock valued at $63,000 after purchasing an additional 852 shares in the last quarter. Ancora Advisors LLC bought a new position in shares of Bath & Body Works during the 4th quarter valued at $67,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of Bath & Body Works by 34.9% during the 4th quarter. TD Private Client Wealth LLC now owns 2,290 shares of the company's stock valued at $89,000 after purchasing an additional 593 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.
Bath & Body Works Trading Down 2.2%
NYSE:BBWI traded down $0.75 during mid-day trading on Friday, hitting $32.90. The company's stock had a trading volume of 5,319,464 shares, compared to its average volume of 5,247,948. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 1.10 and a beta of 1.72. Bath & Body Works, Inc. has a fifty-two week low of $24.94 and a fifty-two week high of $41.87. The stock has a fifty day moving average of $30.08 and a 200-day moving average of $32.50.
Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.49 earnings per share 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 negative return on equity of 47.44% and a net margin of 11.10%. The company's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. On average, equities analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.
Bath & Body Works Dividend Announcement
The business also recently disclosed 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 annualized dividend and a yield of 2.43%. Bath & Body Works's dividend payout ratio is currently 21.33%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on BBWI shares. Morgan Stanley cut their price target 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. Barclays dropped their target price on shares of Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Wells Fargo & Company lifted their target price on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Citigroup lifted 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. Finally, Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the stock 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $42.00.
Get Our Latest Stock Analysis on Bath & Body Works
About Bath & Body Works
(
Free Report)
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.
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