IFM Investors Pty Ltd Buys Shares of 41,177 Bath & Body Works, Inc. (NYSE:BBWI)

IFM Investors Pty Ltd bought a new position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 41,177 shares of the company's stock, valued at approximately $1,314,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBWI. D1 Capital Partners L.P. purchased a new position in Bath & Body Works in the 4th quarter worth $109,797,000. Norges Bank purchased a new position in shares of Bath & Body Works during the 4th quarter valued at about $73,572,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Bath & Body Works by 79.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock valued at $150,507,000 after buying an additional 1,715,096 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of 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 buying an additional 1,606,988 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock valued at $200,768,000 after buying an additional 1,360,264 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBWI. JPMorgan Chase & Co. lifted their price objective on Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Piper Sandler set a $39.00 price objective on Bath & Body Works and gave the company an "overweight" rating in a research note on Thursday, May 15th. The Goldman Sachs Group reduced their price objective on Bath & Body Works from $44.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Raymond James Financial cut their price target on Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $38.00 price target (down previously from $43.00) on shares of Bath & Body Works in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Bath & Body Works has an average rating of "Moderate Buy" and an average target price of $42.00.

Bath & Body Works Stock Down 2.2%

Shares of Bath & Body Works stock traded down $0.75 on Friday, hitting $32.90. 5,319,464 shares of the company were exchanged, compared to its average volume of 5,247,948. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.10 and a beta of 1.72. The company has a 50-day moving average price of $30.08 and a 200 day moving average price of $32.50. Bath & Body Works, Inc. has a 1-year low of $24.94 and a 1-year high of $41.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%. The firm 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 posted $0.38 earnings per share. The firm's quarterly revenue was up 2.9% on a year-over-year basis. Research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Friday, June 6th. Bath & Body Works's dividend payout ratio is presently 21.33%.

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.