Wedmont Private Capital Buys New Position in Bath & Body Works, Inc. (NYSE:BBWI)

Wedmont Private Capital bought a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,212 shares of the company’s stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. purchased a new position in shares of Bath & Body Works in the 1st quarter valued at about $214,000. GAMMA Investing LLC boosted its stake in shares of Bath & Body Works by 75.7% in the 1st quarter. GAMMA Investing LLC now owns 1,116 shares of the company’s stock valued at $56,000 after buying an additional 481 shares during the period. Boltwood Capital Management purchased a new position in shares of Bath & Body Works in the 1st quarter valued at about $206,000. Trust Co. of Toledo NA OH purchased a new position in shares of Bath & Body Works in the 1st quarter valued at about $408,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Bath & Body Works by 3.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 87,132 shares of the company’s stock valued at $3,761,000 after buying an additional 3,003 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Down 0.9 %

BBWI opened at $41.92 on Friday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 1.40 and a beta of 1.90. Bath & Body Works, Inc. has a 52 week low of $27.30 and a 52 week high of $52.99. The business’s 50 day moving average is $46.39 and its two-hundred day moving average is $44.94.

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

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, June 7th. Bath & Body Works’s payout ratio is currently 20.62%.

Insider Activity

In other news, insider Thomas E. Mazurek sold 4,285 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total value of $209,493.65. Following the transaction, the insider now owns 45,992 shares of the company’s stock, valued at $2,248,548.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BBWI shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Bath & Body Works from $53.00 to $57.00 in a research note on Monday, June 3rd. Robert W. Baird boosted their target price on Bath & Body Works from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. UBS Group boosted their target price on Bath & Body Works from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. The Goldman Sachs Group boosted their target price on Bath & Body Works from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, Wells Fargo & Company boosted their target price on Bath & Body Works from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.53.

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.