Bath & Body Works, Inc. (NYSE:BBWI) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 1,078.2% during the third quarter, HoldingsChannel reports. The institutional investor 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Bath & Body Works during the third quarter worth about $8,129,000. Weiss Asset Management LP boosted its stake in Bath & Body Works by 29.0% in the third quarter. Weiss Asset Management LP now owns 377,969 shares of the company’s stock valued at $12,065,000 after acquiring an additional 84,873 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Bath & Body Works by 31.2% during 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 last quarter. Redwood Investment Management LLC raised its position in shares of Bath & Body Works by 13.9% during the 3rd quarter. Redwood Investment Management LLC now owns 125,813 shares of the company’s stock worth $4,075,000 after purchasing an additional 15,342 shares during the period. Finally, Investment Management Corp of Ontario lifted its holdings in shares of Bath & Body Works by 12.0% in the 3rd 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 institutional investors and hedge funds.

Insiders Place Their Bets

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade 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 available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Bath & Body Works Price Performance

NYSE BBWI opened at $36.60 on Monday. The company’s fifty day moving average is $31.81 and its two-hundred day moving average is $34.94. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 1.43 and a beta of 1.83. 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 results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts expect that Bath & Body Works, Inc. will post 3.26 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a $0.20 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.19%. Bath & Body Works’s dividend payout ratio (DPR) is currently 19.51%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BBWI. Wells Fargo & Company upped their price objective on Bath & Body Works from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 26th. TD Cowen increased their price objective on shares of Bath & Body Works from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler boosted their target price on shares of Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, UBS Group cut their price target on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.88.

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.