BlackRock Inc. Takes $1.18 Billion Position in Bath & Body Works Inc (NYSE:BBWI)

BlackRock Inc. bought a new stake in Bath & Body Works Inc (NYSE:BBWI) in the third quarter, Holdings Channel.com reports. The firm bought 18,788,482 shares of the company’s stock, valued at approximately $1,184,238,000. BlackRock Inc. owned approximately 0.07% of Bath & Body Works at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new stake in Bath & Body Works during the third quarter worth about $25,000. Maj Invest Holding A S acquired a new stake in Bath & Body Works during the third quarter worth about $30,000. Parallel Advisors LLC acquired a new stake in Bath & Body Works during the third quarter worth about $31,000. Optimum Investment Advisors acquired a new stake in Bath & Body Works during the third quarter worth about $45,000. Finally, Larson Financial Group LLC acquired a new stake in Bath & Body Works during the third quarter worth about $53,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Bath & Body Works from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 18th. Morgan Stanley raised their price objective on shares of Bath & Body Works from $84.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 19th. MKM Partners increased their target price on shares of Bath & Body Works from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, November 18th. UBS Group increased their target price on shares of Bath & Body Works from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, November 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bath & Body Works from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 7th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Buy” and a consensus price target of $86.63.

In related news, Director Robert H. Schottenstein sold 5,375 shares of the firm’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $74.52, for a total value of $400,545.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.31% of the stock is owned by company insiders.

NYSE BBWI opened at $55.83 on Friday. The company has a 50 day simple moving average of $70.92. Bath & Body Works Inc has a one year low of $29.17 and a one year high of $82.00. The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 0.69 and a beta of 1.70.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Wednesday, November 17th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.32. Bath & Body Works had a net margin of 14.24% and a negative return on equity of 165.36%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts expect that Bath & Body Works Inc will post 4.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 3rd. Investors of record on Friday, November 19th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 18th. This represents a $0.60 annualized dividend and a yield of 1.07%. Bath & Body Works’s dividend payout ratio (DPR) is 10.58%.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.

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Institutional Ownership by Quarter for Bath & Body Works (NYSE:BBWI)

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