Wedmont Private Capital Reduces Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Wedmont Private Capital decreased its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 40.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,456 shares of the company’s stock after selling 3,756 shares during the quarter. Wedmont Private Capital’s holdings in Bath & Body Works were worth $204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBWI. TD Asset Management Inc boosted its holdings in Bath & Body Works by 3.7% during the 4th quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock valued at $42,136,000 after acquiring an additional 35,261 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Bath & Body Works by 28.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after acquiring an additional 56,764 shares during the period. Russell Investments Group Ltd. boosted its holdings in Bath & Body Works by 46.9% during the 1st quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock valued at $6,572,000 after acquiring an additional 41,995 shares during the period. Frazier Financial Advisors LLC purchased a new position in Bath & Body Works during the 4th quarter valued at $1,618,000. Finally, Vanguard Group Inc. boosted its holdings in Bath & Body Works by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after acquiring an additional 1,102,124 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

BBWI has been the subject of several research reports. Barclays lowered their target price on Bath & Body Works from $45.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company lowered their target price on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. upgraded Bath & Body Works from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $40.00 to $53.00 in a report on Friday, May 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a report on Tuesday, June 4th. Finally, Piper Sandler lowered their target price on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.73.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $31.60 on Wednesday. The business’s 50-day moving average is $38.18 and its 200 day moving average is $43.52. Bath & Body Works, Inc. has a 1 year low of $27.30 and a 1 year high of $52.99. The firm has a market capitalization of $7.05 billion, a P/E ratio of 8.14, a P/E/G ratio of 1.16 and a beta of 1.85.

Bath & Body Works (NYSE:BBWI) last announced its earnings results 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 negative return on equity of 40.00% and a net margin of 11.92%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $0.33 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts expect that Bath & Body Works, Inc. will post 3.29 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, August 23rd. Bath & Body Works’s dividend payout ratio is presently 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.