Bath & Body Works, Inc. (NYSE:BBWI) is Forest Avenue Capital Management LP’s 5th Largest Position

Forest Avenue Capital Management LP raised its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 19.1% during the third quarter, Holdings Channel reports. The fund owned 1,467,763 shares of the company’s stock after buying an additional 235,173 shares during the period. Bath & Body Works makes up approximately 5.7% of Forest Avenue Capital Management LP’s portfolio, making the stock its 5th largest position. Forest Avenue Capital Management LP’s holdings in Bath & Body Works were worth $46,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System lifted its position in shares of Bath & Body Works by 1.4% during the 1st quarter. California State Teachers Retirement System now owns 345,749 shares of the company’s stock valued at $17,294,000 after buying an additional 4,695 shares during the last quarter. Tidal Investments LLC raised its stake in Bath & Body Works by 223.9% in the 1st quarter. Tidal Investments LLC now owns 19,398 shares of the company’s stock valued at $970,000 after acquiring an additional 13,410 shares during the period. Atria Investments Inc purchased a new stake in Bath & Body Works during the first quarter valued at about $1,058,000. Northwest Bank & Trust Co boosted its position in Bath & Body Works by 2.5% during the first quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after purchasing an additional 315 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Bath & Body Works by 1.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after purchasing an additional 322 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BBWI shares. Piper Sandler upped their price target 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. Telsey Advisory Group restated an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a research report on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. UBS Group dropped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Insider Activity at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was acquired 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 in the company, valued at $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

Bath & Body Works Trading Down 1.5 %

BBWI stock opened at $35.23 on Wednesday. The company’s 50 day moving average is $30.69 and its 200 day moving average is $35.74. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, sell-side analysts forecast that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business 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 $0.20 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.27%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Bath & Body Works 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.