Bath & Body Works, Inc. (NYSE:BBWI) Shares Acquired by Amalgamated Bank

Amalgamated Bank raised its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 45.4% in the first quarter, Holdings Channel.com reports. The fund owned 99,431 shares of the company’s stock after acquiring an additional 31,029 shares during the quarter. Amalgamated Bank’s holdings in Bath & Body Works were worth $3,015,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Bath & Body Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock valued at $1,093,306,000 after acquiring an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Bath & Body Works by 4.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company’s stock valued at $396,815,000 after purchasing an additional 422,973 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Bath & Body Works by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock valued at $329,317,000 after purchasing an additional 445,887 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Bath & Body Works by 35.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock valued at $200,768,000 after purchasing an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of Bath & Body Works by 38.3% in the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock valued at $188,456,000 after purchasing an additional 1,346,752 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group increased their price target on Bath & Body Works from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Barclays cut their price target on Bath & Body Works from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. increased their price target on Bath & Body Works from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Piper Sandler set a $39.00 price target on Bath & Body Works and gave the company an “overweight” rating in a report on Thursday, May 15th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $38.00 price target (down previously from $43.00) on shares of Bath & Body Works in a report on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bath & Body Works presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Bath & Body Works Stock Up 1.1%

BBWI stock opened at $33.14 on Friday. Bath & Body Works, Inc. has a 52-week low of $24.94 and a 52-week high of $41.87. The business has a fifty day moving average of $29.84 and a two-hundred day moving average of $32.74. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.72.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.41%. Bath & Body Works’s dividend payout ratio is currently 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.