Everence Capital Management Inc. Takes $260,000 Position in Bath & Body Works, Inc. (NYSE:BBWI)

Everence Capital Management Inc. acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 6,710 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its stake in shares of Bath & Body Works by 5,270.0% in the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 1,054 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Bath & Body Works in the third quarter valued at approximately $39,000. TD Private Client Wealth LLC grew its holdings in shares of Bath & Body Works by 24.2% in the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after purchasing an additional 331 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Bath & Body Works by 480.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after buying an additional 1,436 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

BBWI opened at $36.78 on Wednesday. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The stock has a market capitalization of $7.97 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.82. The business’s 50-day simple moving average is $35.27 and its 200-day simple moving average is $33.76.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, equities research analysts forecast that Bath & Body Works, Inc. will post 3.26 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, November 22nd. Bath & Body Works’s payout ratio is currently 19.51%.

Wall Street Analysts Forecast Growth

BBWI has been the subject of several research reports. Barclays boosted their price target on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 26th. Telsey Advisory Group restated an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a report on Monday, November 25th. Piper Sandler increased their price target on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.69.

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.