Verition Fund Management LLC Raises Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Verition Fund Management LLC grew its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 111.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,345,777 shares of the company’s stock after buying an additional 710,333 shares during the quarter. Verition Fund Management LLC owned about 0.61% of Bath & Body Works worth $42,957,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BBWI. First Community Trust NA purchased a new position in Bath & Body Works during the 2nd quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Bath & Body Works by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after buying an additional 900 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Bath & Body Works by 480.3% in the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after buying an additional 1,436 shares during the period. GAMMA Investing LLC lifted its holdings in Bath & Body Works by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after buying an additional 730 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Bath & Body Works in the third quarter worth about $103,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the transaction, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BBWI shares. Citigroup decreased their price objective on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on shares of Bath & Body Works from $32.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday. TD Cowen lifted their price target on shares of Bath & Body Works from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler boosted their price objective on shares of Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Barclays raised their target price on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Bath & Body Works Trading Up 1.9 %

Bath & Body Works stock opened at $35.90 on Friday. 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 $7.78 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.35 and a beta of 1.79. The company’s 50-day moving average price is $30.93 and its two-hundred day moving average price is $35.65.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Research analysts expect that Bath & Body Works, Inc. will post 3.24 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is currently 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.