True Wealth Design LLC Boosts Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

True Wealth Design LLC boosted its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 5,270.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,074 shares of the company’s stock after acquiring an additional 1,054 shares during the quarter. True Wealth Design LLC’s holdings in Bath & Body Works were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Anomaly Capital Management LP acquired a new position in shares of Bath & Body Works during the second quarter worth about $113,995,000. FMR LLC increased its position in Bath & Body Works by 17,496.5% during the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after purchasing an additional 2,501,828 shares during the period. KBC Group NV increased its position in Bath & Body Works by 9,023.5% during the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after purchasing an additional 1,683,160 shares during the period. Lone Pine Capital LLC raised its stake in shares of Bath & Body Works by 15.8% during the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after buying an additional 1,547,399 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Bath & Body Works by 723.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock valued at $37,268,000 after buying an additional 1,025,757 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Stock Up 0.9 %

Shares of Bath & Body Works stock opened at $36.24 on Monday. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The business’s fifty day moving average is $31.19 and its two-hundred day moving average is $35.48. The firm has a market cap of $7.85 billion, a PE ratio of 8.84, a P/E/G ratio of 1.36 and a beta of 1.79.

Bath & Body Works Announces Dividend

The firm 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s payout ratio is 19.51%.

Analysts Set New Price Targets

BBWI has been the subject of several research analyst reports. UBS Group cut their price objective on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Bank of America lowered their price target on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Piper Sandler raised 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 note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley dropped their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Insider Buying and Selling at Bath & Body Works

In related news, CEO Gina Boswell purchased 6,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the acquisition, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is owned by company insiders.

Bath & Body Works Company 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.