Everett Harris & Co. CA Boosts Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Key Points

• Everett Harris & Co. CA increased its stake in Bath & Body Works, Inc. by 47.5%, owning 92,935 shares valued at approximately $2.82 million after purchasing additional shares in the first quarter.
• The company reported earnings of $0.49 per share for the last quarter, surpassing analysts' expectations, while revenue was $1.40 billion, slightly below the anticipated $1.42 billion.
• Bath & Body Works announced a quarterly dividend of $0.20, resulting in an annualized dividend yield of 2.7%, with a payout ratio of 21.33%.

Everett Harris & Co. CA increased its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 47.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,935 shares of the company's stock after buying an additional 29,948 shares during the period. Everett Harris & Co. CA's holdings in Bath & Body Works were worth $2,818,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its position 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 valued at $396,815,000 after purchasing an additional 422,973 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 valued at $329,317,000 after purchasing an additional 445,887 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Bath & Body Works by 14,732.0% in the 1st quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company's stock valued at $206,119,000 after purchasing an additional 6,752,274 shares during the last quarter. Anomaly Capital Management LP increased its position 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 valued at $188,456,000 after purchasing an additional 1,346,752 shares during the last quarter. Finally, FMR LLC increased its position in shares of Bath & Body Works by 21.2% in the 4th quarter. FMR LLC now owns 3,050,189 shares of the company's stock valued at $118,256,000 after purchasing an additional 534,062 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

Shares of BBWI stock traded down $0.84 during mid-day trading on Friday, hitting $28.45. The stock had a trading volume of 3,295,141 shares, compared to its average volume of 4,665,808. Bath & Body Works, Inc. has a fifty-two week low of $24.94 and a fifty-two week high of $41.87. The company's 50-day simple moving average is $29.74 and its 200-day simple moving average is $31.56. The firm has a market cap of $6.02 billion, a PE ratio of 7.59, a PEG ratio of 0.95 and a beta of 1.54.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the business earned $0.38 earnings per share. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.8%. Bath & Body Works's dividend payout ratio (DPR) is currently 21.33%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BBWI. Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the company an "overweight" rating in a research report on Thursday, May 15th. Raymond James Financial dropped their target price on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. 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 research report on Friday, May 30th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $38.00 target price (down from $43.00) on shares of Bath & Body Works in a research report on Thursday, May 29th. Finally, Wall Street Zen downgraded shares of Bath & Body Works from a "buy" rating to a "hold" rating in a research report on Saturday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $42.19.

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.