Earnest Partners LLC Raises Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Earnest Partners LLC boosted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,302,833 shares of the company’s stock after buying an additional 32,791 shares during the quarter. Earnest Partners LLC owned approximately 0.58% of Bath & Body Works worth $65,168,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Hyperion Capital Advisors LP purchased a new position in Bath & Body Works during the first quarter valued at approximately $250,000. Westwood Holdings Group Inc. acquired a new stake in Bath & Body Works in the first quarter valued at approximately $212,000. Pinnbrook Capital Management LP acquired a new stake in Bath & Body Works in the first quarter valued at approximately $3,491,000. EntryPoint Capital LLC boosted its stake in Bath & Body Works by 224.0% in the first quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Boulder Hill Capital Management LP boosted its stake in Bath & Body Works by 49.7% in the first quarter. Boulder Hill Capital Management LP now owns 78,900 shares of the company’s stock valued at $3,947,000 after acquiring an additional 26,200 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

NYSE BBWI traded up $0.97 during trading hours on Monday, hitting $35.14. 2,958,193 shares of the company’s stock traded hands, compared to its average volume of 2,910,817. Bath & Body Works, Inc. has a 52-week low of $27.30 and a 52-week high of $52.99. The company has a market capitalization of $7.84 billion, a PE ratio of 9.06, a PEG ratio of 1.13 and a beta of 1.85. The firm’s 50-day moving average is $41.77 and its 200-day moving average is $44.24.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Tuesday, June 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the company earned $0.33 EPS. Bath & Body Works’s revenue was down .9% compared to the same quarter last year. Equities research analysts predict that Bath & Body Works, Inc. will post 3.29 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 annualized dividend and a yield of 2.28%. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an “underweight” rating to a “neutral” rating and raised their target price for the company from $40.00 to $53.00 in a research note on Friday, May 17th. Telsey Advisory Group restated an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a research note on Tuesday, June 4th. BMO Capital Markets raised their target price 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. Wells Fargo & Company lowered their target price on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Bath & Body Works from $53.00 to $57.00 in a research note on Monday, June 3rd. 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, Bath & Body Works currently has a consensus rating of “Hold” and a consensus target price of $47.60.

Bath & Body Works Profile

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.