Meeder Asset Management Inc. Buys 1,436 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Meeder Asset Management Inc. raised its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 480.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,735 shares of the company’s stock after acquiring an additional 1,436 shares during the quarter. Meeder Asset Management Inc.’s holdings in Bath & Body Works were worth $55,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BBWI. First Community Trust NA purchased a new position in shares of Bath & Body Works during the second quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Bath & Body Works by 300.0% during 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 in the last quarter. GAMMA Investing LLC grew its position in shares of Bath & Body Works by 65.4% during the second quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock valued at $72,000 after purchasing an additional 730 shares in the last quarter. EntryPoint Capital LLC grew its position in Bath & Body Works by 224.0% in the first quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock worth $74,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in Bath & Body Works in the third quarter worth about $103,000. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BBWI has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. UBS Group dropped their target price on 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. Evercore ISI dropped their target price on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, August 28th. Robert W. Baird dropped their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Wells Fargo & Company dropped their target price on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus target price of $42.44.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $30.52 on Thursday. 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 capitalization of $6.69 billion, a P/E ratio of 7.39, a PEG ratio of 1.00 and a beta of 1.79. The company’s fifty day moving average is $30.41 and its two-hundred day moving average is $36.14.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. As a group, equities analysts expect that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.20 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. Bath & Body Works’s payout ratio is 19.37%.

Insider Activity at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.

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.