DoubleLine ETF Adviser LP Purchases New Stake in Bath & Body Works, Inc. (NYSE:BBWI)

DoubleLine ETF Adviser LP acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,511 shares of the company’s stock, valued at approximately $254,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Anomaly Capital Management LP bought a new position in shares of Bath & Body Works in the 2nd quarter worth about $113,995,000. Lone Pine Capital LLC boosted its stake in Bath & Body Works by 20.0% in the fourth quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock valued at $450,973,000 after acquiring an additional 1,742,471 shares during the period. Cadian Capital Management LP bought a new position in shares of Bath & Body Works during the fourth quarter valued at approximately $58,266,000. Vanguard Group Inc. grew 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 valued at $1,370,458,000 after purchasing an additional 1,102,124 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Bath & Body Works by 5,406.5% during the 4th quarter. KBC Group NV now owns 1,118,706 shares of the company’s stock worth $48,284,000 after purchasing an additional 1,098,390 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BBWI shares. Raymond James reduced their price objective on 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. Telsey Advisory Group restated an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. UBS Group decreased their target price 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. Finally, The Goldman Sachs Group dropped their price target on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.35.

Bath & Body Works Stock Performance

Shares of NYSE BBWI opened at $31.74 on Friday. Bath & Body Works, Inc. has a 1 year low of $26.20 and a 1 year high of $52.99. The firm has a market cap of $6.95 billion, a P/E ratio of 8.18, a PEG ratio of 0.96 and a beta of 1.77. The stock has a fifty day moving average price of $31.96 and a two-hundred day moving average price of $40.40.

Bath & Body Works (NYSE:BBWI) last announced its 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 negative return on equity of 41.94% and a net margin of 12.69%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, research analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.20 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.52%. Bath & Body Works’s payout ratio is currently 20.62%.

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.