Oppenheimer Asset Management Inc. Raises Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Oppenheimer Asset Management Inc. raised its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 41.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,985 shares of the company’s stock after purchasing an additional 15,243 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Bath & Body Works were worth $2,030,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its position in Bath & Body Works by 5.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock valued at $279,000 after buying an additional 277 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Bath & Body Works by 3.6% in the 1st quarter. Empirical Finance LLC now owns 8,097 shares of the company’s stock valued at $405,000 after acquiring an additional 278 shares during the last quarter. Comerica Bank increased its stake in shares of Bath & Body Works by 0.9% in the fourth quarter. Comerica Bank now owns 33,091 shares of the company’s stock worth $1,428,000 after acquiring an additional 280 shares during the period. CWM LLC raised its holdings in shares of Bath & Body Works by 6.6% during the second quarter. CWM LLC now owns 5,072 shares of the company’s stock worth $198,000 after purchasing an additional 314 shares during the last quarter. Finally, Northwest Bank & Trust Co lifted its position in Bath & Body Works by 2.5% during the first quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock valued at $655,000 after purchasing an additional 315 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BBWI shares. Wells Fargo & Company decreased their price objective on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. UBS Group decreased their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Telsey Advisory Group restated an “outperform” rating and set a $53.00 target price on shares of Bath & Body Works in a research report on Wednesday, August 28th. Morgan Stanley reduced their price target on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Finally, Bank of America dropped their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Bath & Body Works Trading Up 0.9 %

Shares of NYSE:BBWI opened at $29.16 on Wednesday. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The company’s 50 day moving average is $33.02 and its two-hundred day moving average is $41.06. The company has a market cap of $6.51 billion, a PE ratio of 7.52, a P/E/G ratio of 0.86 and a beta of 1.77.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Bath & Body Works Company 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.