Graphene Investments SAS Increases Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Graphene Investments SAS grew its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 19.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,400 shares of the company's stock after purchasing an additional 15,000 shares during the quarter. Bath & Body Works makes up 2.1% of Graphene Investments SAS's holdings, making the stock its 22nd biggest holding. Graphene Investments SAS's holdings in Bath & Body Works were worth $2,832,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bath & Body Works by 32.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock worth $2,046,000 after acquiring an additional 12,964 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Bath & Body Works by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock worth $3,428,000 after acquiring an additional 4,625 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of Bath & Body Works in the fourth quarter worth approximately $258,000. Merit Financial Group LLC acquired a new position in shares of Bath & Body Works in the first quarter worth approximately $714,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock worth $66,088,000 after acquiring an additional 195,813 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BBWI. Piper Sandler set a $39.00 price objective on Bath & Body Works and gave the stock an "overweight" rating in a research note on Thursday, May 15th. The Goldman Sachs Group cut their price objective 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. Wells Fargo & Company lifted their target price on Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Citigroup lifted their target price on Bath & Body Works from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lifted their target price on Bath & Body Works from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Bath & Body Works Trading Down 0.3%

Shares of NYSE:BBWI traded down $0.09 during mid-day trading on Monday, hitting $29.97. 4,770,629 shares of the company traded hands, compared to its average volume of 5,147,916. The stock has a market cap of $6.34 billion, a P/E ratio of 7.99, a P/E/G ratio of 1.08 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 stock has a 50-day moving average price of $29.55 and a two-hundred day moving average price of $32.82.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.42 billion. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%. Bath & Body Works's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. Bath & Body Works's payout ratio is 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.