iA Global Asset Management Inc. Raises Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

iA Global Asset Management Inc. grew its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 1,078.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,331 shares of the company’s stock after purchasing an additional 45,144 shares during the period. iA Global Asset Management Inc.’s holdings in Bath & Body Works were worth $1,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in Bath & Body Works in the 3rd quarter worth about $8,129,000. Weiss Asset Management LP boosted its position in shares of Bath & Body Works by 29.0% in the third quarter. Weiss Asset Management LP now owns 377,969 shares of the company’s stock worth $12,065,000 after acquiring an additional 84,873 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Bath & Body Works by 31.2% in the third quarter. Quantinno Capital Management LP now owns 56,661 shares of the company’s stock valued at $1,809,000 after purchasing an additional 13,485 shares during the period. Redwood Investment Management LLC grew its holdings in Bath & Body Works by 13.9% in the third quarter. Redwood Investment Management LLC now owns 125,813 shares of the company’s stock valued at $4,075,000 after purchasing an additional 15,342 shares during the period. Finally, Investment Management Corp of Ontario increased its position in Bath & Body Works by 12.0% during the third quarter. Investment Management Corp of Ontario now owns 20,603 shares of the company’s stock worth $658,000 after purchasing an additional 2,200 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Trading Down 0.5 %

NYSE BBWI opened at $36.60 on Monday. The stock has a market cap of $7.93 billion, a P/E ratio of 8.93, a PEG ratio of 1.43 and a beta of 1.83. The company’s fifty day simple moving average is $31.81 and its 200-day simple moving average is $34.94. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. On average, research analysts expect 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 paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, November 26th. Morgan Stanley reduced their target price on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler increased their target price on shares of Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research 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’s stock. Based on data from MarketBeat, Bath & Body Works has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Insiders Place Their Bets

In related news, CEO Gina Boswell bought 6,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

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.