Shell Asset Management Co. Sells 15,941 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Shell Asset Management Co. cut its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 35.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,037 shares of the company’s stock after selling 15,941 shares during the period. Shell Asset Management Co.’s holdings in Bath & Body Works were worth $1,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BBWI. Denali Advisors LLC bought a new stake in shares of Bath & Body Works in the 4th quarter valued at $27,000. GAMMA Investing LLC bought a new stake in shares of Bath & Body Works in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC raised its position in shares of Bath & Body Works by 72.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after purchasing an additional 337 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of Bath & Body Works during the 4th quarter valued at about $35,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Bath & Body Works in the 4th quarter valued at approximately $43,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BBWI has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of Bath & Body Works from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bath & Body Works from $53.00 to $57.00 in a research note on Monday, June 3rd. JPMorgan Chase & Co. raised Bath & Body Works from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $40.00 to $53.00 in a research note on Friday, May 17th. Piper Sandler reduced their price objective on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 price target on shares of Bath & Body Works in a research note on Tuesday, June 4th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.60.

Bath & Body Works Price Performance

Bath & Body Works stock traded up $0.92 during trading hours on Friday, hitting $34.05. The company had a trading volume of 993,680 shares, compared to its average volume of 2,891,446. The firm has a market cap of $7.60 billion, a PE ratio of 8.82, a PEG ratio of 1.13 and a beta of 1.85. The firm has a 50-day moving average of $42.40 and a 200 day moving average of $44.38. Bath & Body Works, Inc. has a one year low of $27.30 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company earned $0.33 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, research analysts expect that Bath & Body Works, Inc. will post 3.29 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, June 7th. Bath & Body Works’s dividend payout ratio is currently 20.62%.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.