Holocene Advisors LP Takes $6.77 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

Holocene Advisors LP bought a new position in Bath & Body Works, Inc. (NYSE:BBWI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 212,096 shares of the company’s stock, valued at approximately $6,770,000. Holocene Advisors LP owned about 0.10% of Bath & Body Works as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cinctive Capital Management LP grew its holdings in Bath & Body Works by 1.9% in the 3rd quarter. Cinctive Capital Management LP now owns 143,316 shares of the company’s stock worth $4,575,000 after acquiring an additional 2,685 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Bath & Body Works in the third quarter worth about $50,483,000. True Wealth Design LLC increased its holdings in Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the period. Verition Fund Management LLC increased its holdings in Bath & Body Works by 111.8% during the 3rd quarter. Verition Fund Management LLC now owns 1,345,777 shares of the company’s stock valued at $42,957,000 after purchasing an additional 710,333 shares during the period. Finally, Captrust Financial Advisors raised its position in Bath & Body Works by 57.2% during the 3rd quarter. Captrust Financial Advisors now owns 16,059 shares of the company’s stock valued at $513,000 after purchasing an additional 5,842 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bath & Body Works

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BBWI shares. 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 research note on Thursday, November 21st. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a report on Monday, November 25th. TD Cowen boosted their price target on shares of Bath & Body Works from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Bank of America reduced their target price on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Stock Down 1.6 %

NYSE:BBWI opened at $36.90 on Wednesday. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.40 and a beta of 1.83. The company’s 50 day moving average price is $31.33 and its 200-day moving average price is $35.30.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. As a group, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.26 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.17%. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

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.