State of Michigan Retirement System Invests $1.57 Million in Bath & Body Works, Inc. (NYSE:BBWI)

State of Michigan Retirement System bought a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 51,800 shares of the company's stock, valued at approximately $1,571,000.

A number of other large investors also recently bought and sold shares of BBWI. Cerity Partners LLC raised its position in shares of Bath & Body Works by 126.4% during the 1st quarter. Cerity Partners LLC now owns 79,559 shares of the company's stock worth $2,412,000 after purchasing an additional 44,414 shares during the period. Allworth Financial LP raised its position in shares of Bath & Body Works by 3,679.4% during the 1st quarter. Allworth Financial LP now owns 8,617 shares of the company's stock worth $256,000 after purchasing an additional 8,389 shares during the period. New Mexico Educational Retirement Board acquired a new stake in shares of Bath & Body Works during the 1st quarter worth approximately $1,295,000. TD Private Client Wealth LLC raised its position in shares of Bath & Body Works by 44.3% during the 1st quarter. TD Private Client Wealth LLC now owns 3,305 shares of the company's stock worth $100,000 after purchasing an additional 1,015 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Bath & Body Works by 9.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,274,388 shares of the company's stock worth $68,959,000 after purchasing an additional 203,724 shares during the period. Institutional investors own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Telsey Advisory Group restated an "outperform" rating and issued a $38.00 target price (down from $43.00) on shares of Bath & Body Works in a research report on Thursday, May 29th. Raymond James Financial lowered their target price on Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company raised their target price on Bath & Body Works from $40.00 to $44.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Citigroup raised their target price on Bath & Body Works from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Barclays lowered their target price on Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Bath & Body Works presently has an average rating of "Moderate Buy" and a consensus target price of $42.00.

Bath & Body Works Price Performance

Shares of BBWI traded down $0.75 during trading hours on Wednesday, hitting $30.44. 1,563,228 shares of the company were exchanged, compared to its average volume of 5,237,387. The company has a market capitalization of $6.44 billion, a PE ratio of 8.11, a PEG ratio of 1.07 and a beta of 1.72. The firm has a fifty day simple moving average of $30.14 and a 200-day simple moving average of $32.41. Bath & Body Works, Inc. has a one year low of $24.94 and a one 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 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. The business 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 company's revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. Sell-side analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. Bath & Body Works's dividend payout ratio (DPR) is presently 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.