Envestnet Asset Management Inc. Has $3.93 Million Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Key Points

• Envestnet Asset Management Inc. reduced its stake in Bath & Body Works by 23.1% during the first quarter, now holding approximately 0.06% of the company worth $3.93 million.
• Bath & Body Works reported earnings per share of $0.49 for the quarter, beating estimates and showing a 2.9% revenue increase from the previous year.
• The company recently declared a quarterly dividend of $0.20 per share, resulting in an annualized yield of 2.54% and a payout ratio of 21.33%.

Envestnet Asset Management Inc. decreased its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,721 shares of the company's stock after selling 39,015 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Bath & Body Works worth $3,933,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BBWI. Golden State Wealth Management LLC boosted 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 worth $40,000 after buying an additional 642 shares during the period. UMB Bank n.a. boosted its holdings in Bath & Body Works by 65.9% during the first quarter. UMB Bank n.a. now owns 1,501 shares of the company's stock valued at $46,000 after acquiring an additional 596 shares during the period. Ancora Advisors LLC bought a new stake in Bath & Body Works during the fourth quarter valued at about $67,000. Quarry LP bought a new stake in Bath & Body Works during the fourth quarter valued at about $122,000. Finally, Blue Trust Inc. boosted its holdings in Bath & Body Works by 15.5% during the first quarter. Blue Trust Inc. now owns 4,184 shares of the company's stock valued at $127,000 after acquiring an additional 560 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Bath & Body Works Stock Up 0.4%

Shares of BBWI stock opened at $31.55 on Friday. The company has a market capitalization of $6.68 billion, a P/E ratio of 8.41, a P/E/G ratio of 1.05 and a beta of 1.72. Bath & Body Works, Inc. has a 12-month low of $24.94 and a 12-month high of $41.87. The firm has a 50-day moving average price of $30.02 and a 200 day moving average price of $32.12.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. Bath & Body Works's revenue was up 2.9% compared to the same quarter last year. As a group, research analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.54%. Bath & Body Works's dividend payout ratio (DPR) is currently 21.33%.

Analysts Set New Price Targets

BBWI has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Piper Sandler set a $39.00 price target on shares of Bath & Body Works and gave the company an "overweight" rating in a report on Thursday, May 15th. Telsey Advisory Group reissued an "outperform" rating and issued a $38.00 price target (down from $43.00) on shares of Bath & Body Works in a report on Thursday, May 29th. Wall Street Zen raised shares of Bath & Body Works from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Raymond James Financial reduced their price target on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

About Bath & Body Works

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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