Engineers Gate Manager LP Decreases Position in Bath & Body Works, Inc. $BBWI

Key Points

• Engineers Gate Manager LP reduced its Bath & Body Works stake by 75.8% in the second quarter, selling 139,153 shares and retaining 44,353 shares valued at approximately $1.03 million. Institutional investors collectively own 95.14% of the company.
• Bath & Body Works beat quarterly earnings expectations, reporting $0.62 in EPS versus the $0.24 consensus and $1.51 billion in revenue, although sales declined 2.3% year over year. The company also declared a quarterly dividend of $0.20, representing a 4.6% annualized yield.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $22.13; the stock recently traded at $17.41, down from its 52-week high of $27.40.

Engineers Gate Manager LP cut its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 75.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,353 shares of the company's stock after selling 139,153 shares during the quarter. Engineers Gate Manager LP's holdings in Bath & Body Works were worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevation Wealth Partners LLC grew its holdings in Bath & Body Works by 5,278.8% in the second quarter. Elevation Wealth Partners LLC now owns 1,775 shares of the company's stock valued at $41,000 after purchasing an additional 1,742 shares during the period. Parallel Advisors LLC raised its position in shares of Bath & Body Works by 35.5% in the 1st quarter. Parallel Advisors LLC now owns 2,570 shares of the company's stock worth $48,000 after buying an additional 673 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Bath & Body Works in the fourth quarter valued at $50,000. MidFirst Bank acquired a new position in Bath & Body Works in the fourth quarter valued at $51,000. Finally, Root Financial Partners LLC grew its position in Bath & Body Works by 4,485.7% during the first quarter. Root Financial Partners LLC now owns 3,210 shares of the company's stock valued at $60,000 after acquiring an additional 3,140 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Stock Up 1.3%

Shares of NYSE:BBWI opened at $17.41 on Friday. The company's 50-day moving average price is $19.31 and its 200 day moving average price is $19.43. The company has a market cap of $3.51 billion, a PE ratio of 4.53, a P/E/G ratio of 0.87 and a beta of 1.38. Bath & Body Works, Inc. has a fifty-two week low of $14.27 and a fifty-two week high of $27.40.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.38. Bath & Body Works had a net margin of 10.83% and a negative return on equity of 53.48%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $0.30 EPS. Bath & Body Works's revenue was down 2.3% on a year-over-year basis. Bath & Body Works has set its Q3 2026 guidance at 0.070-0.120 EPS and its FY 2026 guidance at 2.600-2.800 EPS. As a group, equities analysts anticipate that Bath & Body Works, Inc. will post 2.73 EPS for the current year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, August 21st. Bath & Body Works's dividend payout ratio (DPR) is presently 20.83%.

Wall Street Analysts Forecast Growth

BBWI has been the topic of several research analyst reports. Citigroup raised shares of Bath & Body Works from a "neutral" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Tuesday, August 18th. UBS Group cut their price objective on Bath & Body Works from $19.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday, August 27th. Raymond James Financial reaffirmed a "market perform" rating on shares of Bath & Body Works in a report on Wednesday, May 27th. Argus reiterated a "hold" rating on shares of Bath & Body Works in a research report on Wednesday. Finally, Robert W. Baird lowered their price target on Bath & Body Works from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.13.

About Bath & Body Works

Bath & Body Works, Inc is a specialty retailer focused on personal care and home-fragrance products. Its offerings include body lotions and creams, shower gels, fragrance mists, hand soaps and sanitizers, candles, home fragrances, and related seasonal merchandise. The company markets products under the Bath & Body Works and White Barn names.

The company sells its products through a network of company-operated stores, its websites, and other direct channels. Its retail operations primarily serve customers in the United States and Canada, while international markets are reached through franchised, licensed, and other distribution arrangements.

Bath & Body Works traces its origins to 1990 and was formerly part of L Brands, Inc It became an independent publicly traded company in 2021 following the separation of L Brands' Victoria's Secret business.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.