Empowered Funds LLC Purchases 10,711 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Empowered Funds LLC increased its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 68.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,462 shares of the company’s stock after acquiring an additional 10,711 shares during the period. Empowered Funds LLC’s holdings in Bath & Body Works were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Bath & Body Works in the first quarter worth $203,000. O Shaughnessy Asset Management LLC boosted its position in shares of Bath & Body Works by 3.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,626 shares of the company’s stock valued at $882,000 after acquiring an additional 578 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of Bath & Body Works by 224.0% during the first quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock worth $74,000 after purchasing an additional 1,017 shares in the last quarter. Earnest Partners LLC increased its position in shares of Bath & Body Works by 2.6% in the first quarter. Earnest Partners LLC now owns 1,302,833 shares of the company’s stock worth $65,168,000 after purchasing an additional 32,791 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Bath & Body Works in the first quarter valued at approximately $250,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BBWI shares. Evercore ISI decreased their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, August 28th. JPMorgan Chase & Co. lowered their price target on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $50.00 price target (down previously from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. Bank of America reduced their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Wells Fargo & Company cut their target price on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.25.

Bath & Body Works Stock Performance

NYSE BBWI opened at $30.71 on Friday. The stock has a market cap of $6.73 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.79. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The stock has a 50 day simple moving average of $30.55 and a two-hundred day simple moving average of $35.91.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Sell-side analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.20 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.61%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.37%.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of Bath & Body Works stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average cost of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

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.