Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,871 shares of the company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Bath & Body Works were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlas Capital Advisors LLC raised its position in Bath & Body Works by 3.8% in the first quarter. Atlas Capital Advisors LLC now owns 14,063 shares of the company’s stock valued at $703,000 after purchasing an additional 521 shares during the period. Kwmg LLC raised its stake in shares of Bath & Body Works by 1.0% during the first quarter. Kwmg LLC now owns 119,526 shares of the company’s stock valued at $5,979,000 after purchasing an additional 1,136 shares during the period. First Financial Corp IN lifted its position in shares of Bath & Body Works by 30.0% during the first quarter. First Financial Corp IN now owns 2,571 shares of the company’s stock worth $129,000 after purchasing an additional 594 shares in the last quarter. FCF Advisors LLC increased its stake in Bath & Body Works by 9.7% during the 1st quarter. FCF Advisors LLC now owns 35,055 shares of the company’s stock worth $1,753,000 after buying an additional 3,112 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in Bath & Body Works in the 1st quarter worth $487,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Trading Down 0.8 %

Shares of NYSE:BBWI opened at $38.12 on Wednesday. The firm’s 50 day moving average is $45.70 and its two-hundred day moving average is $45.11. The firm has a market capitalization of $8.51 billion, a P/E ratio of 9.82, a PEG ratio of 1.29 and a beta of 1.85. Bath & Body Works, Inc. has a 52 week low of $27.30 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share 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 firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Analysts predict 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 was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, June 7th. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BBWI. Deutsche Bank Aktiengesellschaft raised their price objective on Bath & Body Works from $53.00 to $57.00 in a research note on Monday, June 3rd. Telsey Advisory Group restated an “outperform” rating and issued a $53.00 price target on shares of Bath & Body Works in a research note on Tuesday, June 4th. JPMorgan Chase & Co. raised shares of Bath & Body Works from an “underweight” rating to a “neutral” rating and upped their price target for the company from $40.00 to $53.00 in a report on Friday, May 17th. BMO Capital Markets raised their price objective on shares of Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, June 5th. Finally, Wells Fargo & Company upped their target price on shares of 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. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.53.

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.