Los Angeles Capital Management LLC Sells 18,058 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Los Angeles Capital Management LLC lessened its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,707 shares of the company’s stock after selling 18,058 shares during the period. Los Angeles Capital Management LLC owned approximately 0.14% of Bath & Body Works worth $15,241,000 at the end of the most recent quarter.

A number of other 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 fourth quarter worth $27,000. GAMMA Investing LLC purchased a new stake in shares of Bath & Body Works during the 4th quarter valued at about $27,000. Front Row Advisors LLC bought a new position in shares of Bath & Body Works in the 3rd quarter worth approximately $25,000. Trust Co. of Vermont purchased a new position in shares of Bath & Body Works in the third quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC grew its position in Bath & Body Works by 72.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after buying an additional 337 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BBWI shares. UBS Group increased their price target on shares of Bath & Body Works from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Telsey Advisory Group reissued an “outperform” rating and set a $53.00 price target on shares of Bath & Body Works in a report on Tuesday, June 4th. Piper Sandler raised their price objective on Bath & Body Works from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Wells Fargo & Company boosted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 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 given a buy rating to the company. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Hold” and an average price target of $48.53.

Insider Activity at Bath & Body Works

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total transaction of $209,493.65. Following the completion of the sale, the insider now directly owns 45,992 shares of the company’s stock, valued at $2,248,548.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.

Bath & Body Works Trading Down 1.3 %

BBWI stock opened at $41.55 on Thursday. The company has a 50-day moving average price of $46.54 and a 200 day moving average price of $44.98. The stock has a market cap of $9.28 billion, a PE ratio of 10.71, a P/E/G ratio of 1.37 and a beta of 1.90. Bath & Body Works, Inc. has a 12 month low of $27.30 and a 12 month high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. Sell-side analysts forecast that Bath & Body Works, Inc. will post 3.29 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, June 7th. Bath & Body Works’s dividend payout ratio (DPR) 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.