Forest Avenue Capital Management LP Grows Position in Bath & Body Works, Inc. (NYSE:BBWI)

Forest Avenue Capital Management LP lifted its position in Bath & Body Works, Inc. (NYSE:BBWI) by 98.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,232,590 shares of the company’s stock after purchasing an additional 611,583 shares during the quarter. Bath & Body Works accounts for 6.7% of Forest Avenue Capital Management LP’s portfolio, making the stock its 2nd largest position. Forest Avenue Capital Management LP owned about 0.55% of Bath & Body Works worth $48,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBWI. Norges Bank bought a new stake in Bath & Body Works in the fourth quarter valued at $101,669,000. Lone Pine Capital LLC increased its position in shares of Bath & Body Works by 20.0% during the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock worth $450,973,000 after purchasing an additional 1,742,471 shares in the last quarter. Cadian Capital Management LP bought a new position in Bath & Body Works during the 4th quarter valued at about $58,266,000. Vanguard Group Inc. increased its holdings in shares of Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after buying an additional 1,102,124 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Bath & Body Works by 5,406.5% in the fourth quarter. KBC Group NV now owns 1,118,706 shares of the company’s stock valued at $48,284,000 after acquiring an additional 1,098,390 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Trading Down 2.1 %

NYSE:BBWI opened at $29.28 on Friday. Bath & Body Works, Inc. has a 1 year low of $26.20 and a 1 year high of $52.99. The stock has a 50-day moving average price of $32.74 and a two-hundred day moving average price of $40.90. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 0.86 and a beta of 1.77.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 annualized dividend and a yield of 2.73%. Bath & Body Works’s dividend payout ratio (DPR) is currently 20.62%.

Analyst Ratings Changes

A number of research firms recently commented on BBWI. The Goldman Sachs Group decreased their price target on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Morgan Stanley dropped their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. UBS Group reduced their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Raymond James dropped their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.