Bayesian Capital Management LP Purchases 13,600 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Bayesian Capital Management LP raised its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 42.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,524 shares of the company’s stock after acquiring an additional 13,600 shares during the quarter. Bayesian Capital Management LP’s holdings in Bath & Body Works were worth $2,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBWI. Denali Advisors LLC bought a new stake in Bath & Body Works during the fourth quarter worth about $27,000. GAMMA Investing LLC bought a new stake in shares of Bath & Body Works during the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bath & Body Works in the 4th quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its stake in shares of Bath & Body Works by 72.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after buying an additional 337 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in Bath & Body Works during the fourth quarter worth $43,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock traded up $1.14 on Tuesday, hitting $36.27. The company had a trading volume of 1,806,519 shares, compared to its average volume of 2,903,597. Bath & Body Works, Inc. has a 1 year low of $27.30 and a 1 year high of $52.99. The stock has a 50 day moving average of $41.77 and a 200-day moving average of $44.24. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 1.13 and a beta of 1.85.

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

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.21%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BBWI shares. BMO Capital Markets upped their price target on shares of Bath & Body Works from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, June 5th. Wells Fargo & Company reduced their price target on 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bath & Body Works from $53.00 to $57.00 in a research report on Monday, June 3rd. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $40.00 to $53.00 in a research report on Friday, May 17th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $53.00 price objective on shares of Bath & Body Works in a research report on Tuesday, June 4th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.60.

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.