Sound Shore Management Inc. CT Purchases 189,889 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Sound Shore Management Inc. CT raised its position in Bath & Body Works, Inc. (NYSE:BBWI) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,088,703 shares of the company’s stock after purchasing an additional 189,889 shares during the period. Bath & Body Works makes up about 2.7% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 17th biggest holding. Sound Shore Management Inc. CT owned about 0.94% of Bath & Body Works worth $81,564,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Bath & Body Works by 17.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,220,472 shares of the company’s stock valued at $52,675,000 after buying an additional 177,373 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Bath & Body Works during the fourth quarter worth about $228,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Bath & Body Works by 5.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,481 shares of the company’s stock valued at $539,000 after purchasing an additional 632 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Bath & Body Works during the 4th quarter valued at about $853,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of Bath & Body Works in the 4th quarter valued at approximately $250,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on BBWI. Morgan Stanley dropped their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Citigroup cut their price objective on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Raymond James reduced their target price on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company dropped their price target on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Bath & Body Works in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Bath & Body Works Trading Down 2.1 %

Shares of BBWI opened at $29.28 on Friday. The company’s fifty day simple moving average is $32.74 and its 200 day simple moving average is $40.90. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.86 and a beta of 1.77.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.20 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.73%. 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.