New Age Alpha Advisors LLC Sells 19,318 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Bath & Body Works by 55.5% to $470,000, owning 15,499 shares after selling 19,318 shares during the first quarter.
• Institutional investors and hedge funds currently own 95.14% of Bath & Body Works stock, with Victory Capital Management increasing its stake by a staggering 14,732.0%.
• Bath & Body Works recently announced a $0.20 quarterly dividend, leading to a total annualized dividend of $0.80 and a yield of 2.8%.

New Age Alpha Advisors LLC reduced its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 55.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,499 shares of the company's stock after selling 19,318 shares during the period. New Age Alpha Advisors LLC's holdings in Bath & Body Works were worth $470,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LPL Financial LLC boosted its holdings in Bath & Body Works by 48.3% in the 4th quarter. LPL Financial LLC now owns 26,117 shares of the company's stock valued at $1,013,000 after purchasing an additional 8,511 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Bath & Body Works by 21.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 168,736 shares of the company's stock valued at $6,542,000 after purchasing an additional 30,042 shares during the period. FMR LLC boosted its holdings in 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 period. Cerity Partners LLC boosted its holdings in Bath & Body Works by 40.1% in the 4th quarter. Cerity Partners LLC now owns 35,145 shares of the company's stock valued at $1,288,000 after purchasing an additional 10,052 shares during the period. Finally, Invesco Ltd. boosted its holdings in Bath & Body Works by 22.6% in the 4th quarter. Invesco Ltd. now owns 711,664 shares of the company's stock valued at $27,591,000 after purchasing an additional 130,972 shares during the period. 95.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on BBWI shares. Wall Street Zen downgraded shares of Bath & Body Works from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup raised their price objective on shares of Bath & Body Works from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. UBS Group raised their price objective on shares of Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. The Goldman Sachs Group reduced their price objective on shares of Bath & Body Works from $44.00 to $43.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Morgan Stanley reduced their price objective on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.19.

Bath & Body Works Trading Up 1.9%

Shares of NYSE:BBWI traded up $0.53 during trading on Tuesday, hitting $28.49. 4,128,960 shares of the company's stock were exchanged, compared to its average volume of 5,118,214. Bath & Body Works, Inc. has a 1-year low of $24.94 and a 1-year high of $41.87. The firm has a 50-day moving average price of $29.76 and a two-hundred day moving average price of $31.46. The firm has a market cap of $6.03 billion, a P/E ratio of 7.60, a PEG ratio of 0.95 and a beta of 1.54.

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

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 22nd. Bath & Body Works's dividend 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.