Seven Eight Capital LP Acquires Shares of 90,682 Bath & Body Works, Inc. (NYSE:BBWI)

Seven Eight Capital LP acquired a new stake in Bath & Body Works, Inc. (NYSE:BBWI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 90,682 shares of the company’s stock, valued at approximately $3,541,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in Bath & Body Works by 42.8% during the 2nd quarter. Hsbc Holdings PLC now owns 806,344 shares of the company’s stock worth $31,539,000 after purchasing an additional 241,669 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Bath & Body Works by 17.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,057 shares of the company’s stock worth $586,000 after acquiring an additional 2,288 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Bath & Body Works by 152.7% during the second quarter. Renaissance Technologies LLC now owns 901,133 shares of the company’s stock worth $35,189,000 after acquiring an additional 544,599 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Bath & Body Works by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,303,487 shares of the company’s stock worth $50,901,000 after acquiring an additional 86,204 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of Bath & Body Works by 327.7% in the second quarter. WINTON GROUP Ltd now owns 38,232 shares of the company’s stock valued at $1,493,000 after buying an additional 29,294 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BBWI. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a report on Wednesday, August 28th. The Goldman Sachs Group cut their target price on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut their price objective on shares of 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. Barclays cut their price objective on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Morgan Stanley dropped their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $29.16 on Wednesday. The business’s 50 day moving average price is $33.02 and its 200 day moving average price is $41.06. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 0.86 and a beta of 1.77.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.20 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

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.