Daiwa Securities Group Inc. Grows Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Daiwa Securities Group Inc. grew its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,411 shares of the company’s stock after acquiring an additional 1,946 shares during the period. Daiwa Securities Group Inc.’s holdings in Bath & Body Works were worth $1,071,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Bath & Body Works by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 26,296,068 shares of the company’s stock worth $1,134,938,000 after buying an additional 606,525 shares in the last quarter. Lone Pine Capital LLC grew its holdings in shares of Bath & Body Works by 20.0% during the fourth quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock worth $450,973,000 after purchasing an additional 1,742,471 shares in the last quarter. Norges Bank bought a new position in shares of Bath & Body Works in the fourth quarter worth approximately $101,669,000. Charles Schwab Investment Management Inc. raised its stake in Bath & Body Works by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,963,919 shares of the company’s stock valued at $84,763,000 after purchasing an additional 38,272 shares in the last quarter. Finally, Sound Shore Management Inc. CT lifted its position in Bath & Body Works by 379.2% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock valued at $82,145,000 after purchasing an additional 1,506,110 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $36.54 on Thursday. The business has a fifty day moving average price of $44.71 and a 200-day moving average price of $44.87. The company has a market capitalization of $8.16 billion, a PE ratio of 9.42, a PEG ratio of 1.24 and a beta of 1.85. Bath & Body Works, Inc. has a 1-year low of $27.30 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. Bath & Body Works’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. On average, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.29 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BBWI. Piper Sandler raised their price objective on shares of Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. BMO Capital Markets raised their price target on shares of Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, June 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Bath & Body Works in a research note on Tuesday, June 4th. Wells Fargo & Company raised their target price on Bath & Body Works from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. raised Bath & Body Works from an “underweight” rating to a “neutral” rating and upped their price target for the company from $40.00 to $53.00 in a research report on Friday, May 17th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Bath & Body Works presently has an average rating of “Hold” and an average target price of $48.53.

About Bath & Body Works

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.