Federated Hermes Inc. Invests $754,000 in Bath & Body Works, Inc. (NYSE:BBWI)

Federated Hermes Inc. purchased a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 24,866 shares of the company's stock, valued at approximately $754,000.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Bath & Body Works by 38.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,711 shares of the company's stock worth $1,265,000 after buying an additional 11,681 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in Bath & Body Works in the fourth quarter worth about $258,000. Merit Financial Group LLC bought a new position in Bath & Body Works during the 1st quarter worth about $714,000. Nuveen Asset Management LLC grew its holdings in Bath & Body Works by 3.7% during the 4th quarter. Nuveen Asset Management LLC now owns 764,195 shares of the company's stock worth $29,628,000 after acquiring an additional 27,136 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Bath & Body Works by 3,642.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,651,109 shares of the company's stock valued at $50,062,000 after purchasing an additional 1,606,988 shares during the period. Hedge funds and other institutional investors own 95.14% of the company's stock.

Bath & Body Works Trading Up 0.5%

NYSE BBWI opened at $29.26 on Friday. Bath & Body Works, Inc. has a 12-month low of $24.94 and a 12-month high of $41.87. The company has a fifty day simple moving average of $29.73 and a two-hundred day simple moving average of $31.66. The stock has a market cap of $6.19 billion, a P/E ratio of 7.80, a P/E/G ratio of 0.97 and a beta of 1.54.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The company had revenue of $1.40 billion during 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 firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. As a group, sell-side analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, June 6th. Bath & Body Works's dividend payout ratio is 21.33%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Bath & Body Works from $32.00 to $36.00 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group lowered their target price on Bath & Body Works from $44.00 to $43.00 and set a "buy" rating for the company in a report on Friday, May 30th. Barclays cut their price target on 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. Wall Street Zen raised Bath & Body Works from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $38.00 price objective (down previously from $43.00) on shares of Bath & Body Works in a research report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company 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.

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