Deutsche Bank AG Buys Shares of 168,280 Bath & Body Works, Inc. $BBWI

Deutsche Bank AG purchased a new position in Bath & Body Works, Inc. (NYSE:BBWI) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 168,280 shares of the company’s stock, valued at approximately $3,892,000.

Several other large investors also recently modified their holdings of BBWI. Global Retirement Partners LLC bought a new position in shares of Bath & Body Works during the 4th quarter valued at about $31,000. Activest Wealth Management acquired a new position in shares of Bath & Body Works in the 4th quarter valued at approximately $32,000. Geneos Wealth Management Inc. grew its position in shares of Bath & Body Works by 217.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock valued at $35,000 after purchasing an additional 801 shares during the period. Parallel Advisors LLC increased its stake in Bath & Body Works by 42.6% during the 4th quarter. Parallel Advisors LLC now owns 1,897 shares of the company’s stock worth $38,000 after purchasing an additional 567 shares in the last quarter. Finally, Danske Bank A S bought a new stake in Bath & Body Works during the 3rd quarter worth approximately $39,000. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Stock Down 8.3%

Shares of BBWI opened at $17.58 on Wednesday. Bath & Body Works, Inc. has a twelve month low of $14.27 and a twelve month high of $32.32. The stock has a market capitalization of $3.54 billion, a P/E ratio of 4.94, a P/E/G ratio of 1.89 and a beta of 1.38. The company has a 50 day moving average of $20.39 and a 200-day moving average of $20.03.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Bath & Body Works had a net margin of 10.03% and a negative return on equity of 45.34%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bath & Body Works, Inc. will post 2.63 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, August 21st. Bath & Body Works’s payout ratio is presently 22.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BBWI shares. Piper Sandler assumed coverage on shares of Bath & Body Works in a research note on Friday, May 15th. They issued a “neutral” rating and a $20.00 price target on the stock. Citigroup upgraded shares of Bath & Body Works from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, August 18th. Barclays cut their price objective on shares of Bath & Body Works from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 28th. Wells Fargo & Company upped their target price on shares of Bath & Body Works from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 23rd. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Bath & Body Works in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bath & Body Works presently has an average rating of “Hold” and a consensus price target of $22.57.

Bath & Body Works Profile

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.