Forest Avenue Capital Management LP Has $50.36 Million Stock Position in Bath & Body Works, Inc. $BBWI

Key Points

• Forest Avenue Capital Management LP has reduced its stake in Bath & Body Works by 18.7%, now holding approximately 1.66 million shares, valued at $50.36 million.
• A number of analysts have set varying price targets for Bath & Body Works, with UBS increasing its target to $36.00 and Wells Fargo raising it to $44.00, contributing to a consensus target price of $42.06.
• The company has announced a quarterly dividend of $0.20 per share, representing an annual yield of 2.6%, with payment scheduled for September 5th to investors on record as of August 22nd.

Forest Avenue Capital Management LP cut its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 18.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,660,961 shares of the company's stock after selling 383,230 shares during the period. Bath & Body Works makes up about 6.8% of Forest Avenue Capital Management LP's portfolio, making the stock its 9th biggest holding. Forest Avenue Capital Management LP owned approximately 0.78% of Bath & Body Works worth $50,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Bath & Body Works by 94.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,320 shares of the company's stock valued at $40,000 after acquiring an additional 642 shares in the last quarter. UMB Bank n.a. raised its holdings in Bath & Body Works by 65.9% in the 1st 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 in the last quarter. Ancora Advisors LLC acquired a new position in Bath & Body Works in the 4th quarter valued at $67,000. GKV Capital Management Co. Inc. acquired a new position in Bath & Body Works in the 1st quarter valued at $69,000. Finally, Brooklyn Investment Group raised its holdings in Bath & Body Works by 394.9% in the 1st quarter. Brooklyn Investment Group now owns 2,697 shares of the company's stock valued at $82,000 after acquiring an additional 2,152 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BBWI has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Bath & Body Works from $40.00 to $46.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Morgan Stanley decreased their price target on Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. UBS Group lifted their price target on Bath & Body Works from $32.00 to $36.00 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Wall Street Zen lowered Bath & Body Works from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, The Goldman Sachs Group decreased their price target on Bath & Body Works from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.06.

Bath & Body Works Stock Performance

NYSE BBWI traded up $0.29 on Wednesday, hitting $31.64. 9,076,627 shares of the stock traded hands, compared to its average volume of 5,118,409. The business's fifty day moving average is $30.49 and its two-hundred day moving average is $30.90. Bath & Body Works, Inc. has a 12 month low of $24.94 and a 12 month high of $41.87. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.04 and a beta of 1.54.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.42 billion. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%.The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. Bath & Body Works has set its Q2 2025 guidance at 0.330-0.380 EPS. Analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. Bath & Body Works's dividend payout ratio is currently 21.33%.

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.