Blueshift Asset Management LLC Purchases 10,029 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Blueshift Asset Management LLC grew its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 132.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,624 shares of the company’s stock after buying an additional 10,029 shares during the period. Blueshift Asset Management LLC’s holdings in Bath & Body Works were worth $563,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Anomaly Capital Management LP purchased a new position in Bath & Body Works during the 2nd quarter valued at $113,995,000. FMR LLC boosted its stake in shares of Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after purchasing an additional 2,501,828 shares during the period. KBC Group NV boosted its stake in shares of Bath & Body Works by 9,023.5% during the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after purchasing an additional 1,683,160 shares during the period. Lone Pine Capital LLC grew its holdings in shares of Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after purchasing an additional 1,547,399 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Bath & Body Works by 723.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock worth $37,268,000 after buying an additional 1,025,757 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bath & Body Works

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

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $35.92 on Thursday. The stock’s 50-day moving average is $30.81 and its two-hundred day moving average is $35.65. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Equities research analysts anticipate that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s payout ratio is 19.51%.

Analyst Ratings Changes

A number of analysts recently issued reports on BBWI shares. Morgan Stanley lowered their price target on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Citigroup lowered their target price on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Wells Fargo & Company increased their price target on Bath & Body Works from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Raymond James dropped their target price on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

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.