Deutsche Bank AG Acquires Shares of 168,280 Bath & Body Works, Inc. $BBWI

Key Points

• Deutsche Bank acquired 168,280 Bath & Body Works shares in the second quarter, valued at approximately $3.9 million and representing 0.08% of the company. Institutional investors collectively own 95.14% of BBWI.
• Analysts maintain a predominantly cautious outlook, with 13 Hold, four Buy and one Sell rating; the consensus price target is $22.57. The stock opened at $17.58, well below its 52-week high of $32.32.
• Bath & Body Works beat quarterly EPS estimates with $0.32 versus $0.29 expected, although revenue declined 3.2% year over year to $1.38 billion. The company declared a quarterly dividend of $0.20, equivalent to a 4.6% annualized yield.

Deutsche Bank AG bought a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 168,280 shares of the company's stock, valued at approximately $3,892,000. Deutsche Bank AG owned 0.08% of Bath & Body Works as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBWI. Parallel Advisors LLC boosted its holdings in Bath & Body Works by 42.6% in the fourth quarter. Parallel Advisors LLC now owns 1,897 shares of the company's stock valued at $38,000 after acquiring an additional 567 shares during the last quarter. State of Michigan Retirement System raised its holdings in Bath & Body Works by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 49,300 shares of the company's stock worth $920,000 after purchasing an additional 600 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Bath & Body Works by 28.5% during the 4th quarter. Meeder Asset Management Inc. now owns 2,874 shares of the company's stock valued at $58,000 after purchasing an additional 637 shares during the period. State of Wyoming lifted its position in Bath & Body Works by 6.2% during the 2nd quarter. State of Wyoming now owns 11,294 shares of the company's stock valued at $338,000 after purchasing an additional 661 shares during the period. Finally, Vident Advisory LLC boosted its stake in shares of Bath & Body Works by 2.8% in the 2nd quarter. Vident Advisory LLC now owns 25,229 shares of the company's stock valued at $756,000 after purchasing an additional 692 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley reiterated an "equal weight" rating and set a $22.00 price target on shares of Bath & Body Works in a research report on Monday, July 6th. TD Cowen raised their price objective on shares of Bath & Body Works from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Piper Sandler initiated coverage on shares of Bath & Body Works in a report on Friday, May 15th. They set a "neutral" rating and a $20.00 target price for the company. Telsey Advisory Group lowered their target price on shares of Bath & Body Works from $25.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, May 28th. Finally, Raymond James Financial reiterated a "market perform" rating on shares of Bath & Body Works in a research report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $22.57.

Bath & Body Works Trading Down 8.3%

Bath & Body Works stock opened at $17.58 on Wednesday. The firm has a market capitalization of $3.54 billion, a P/E ratio of 4.94, a PEG ratio of 1.89 and a beta of 1.38. The business has a 50-day moving average of $20.39 and a 200-day moving average of $20.03. Bath & Body Works, Inc. has a 1 year low of $14.27 and a 1 year high of $32.32.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Bath & Body Works had a net margin of 10.03% and a negative return on equity of 45.34%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company posted $0.49 EPS. Bath & Body Works's revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts anticipate that Bath & Body Works, Inc. will post 2.63 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, August 21st. Bath & Body Works's dividend payout ratio is presently 22.47%.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.

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