iA Global Asset Management Inc. Acquires 45,144 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

iA Global Asset Management Inc. grew its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 1,078.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,331 shares of the company's stock after acquiring an additional 45,144 shares during the period. iA Global Asset Management Inc.'s holdings in Bath & Body Works were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BBWI. Forest Avenue Capital Management LP lifted its stake in shares of Bath & Body Works by 19.1% during the 3rd quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company's stock valued at $46,851,000 after buying an additional 235,173 shares in the last quarter. Anthracite Investment Company Inc. purchased a new position in shares of Bath & Body Works during the 3rd quarter valued at $2,921,000. Principal Financial Group Inc. lifted its stake in Bath & Body Works by 328.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company's stock worth $34,153,000 after purchasing an additional 820,379 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Bath & Body Works by 18.1% in the 3rd quarter. New York State Teachers Retirement System now owns 266,235 shares of the company's stock worth $8,498,000 after purchasing an additional 40,793 shares in the last quarter. Finally, Weiss Asset Management LP lifted its stake in Bath & Body Works by 29.0% in the 3rd quarter. Weiss Asset Management LP now owns 377,969 shares of the company's stock worth $12,065,000 after purchasing an additional 84,873 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

Insider Activity at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of the firm's stock in a transaction dated 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 completion of the acquisition, the chief executive officer now owns 242,987 shares of the company's stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Bath & Body Works Stock Up 7.1 %

Shares of BBWI traded up $2.60 during mid-day trading on Monday, hitting $39.20. The company had a trading volume of 6,569,643 shares, compared to its average volume of 4,023,744. The stock has a market cap of $8.49 billion, a PE ratio of 8.93, a P/E/G ratio of 1.37 and a beta of 1.83. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The business's 50-day simple moving average is $31.81 and its 200-day simple moving average is $34.94.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its earnings results on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, sell-side analysts expect that Bath & Body Works, Inc. will post 3.26 earnings per share for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.20 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.04%. Bath & Body Works's dividend payout ratio is 19.51%.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays boosted their price target on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 26th. TD Cowen upped their target price on shares of Bath & Body Works from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. BMO Capital Markets reiterated an "outperform" rating and set a $50.00 price target (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. The Goldman Sachs Group cut their price target on shares of Bath & Body Works from $60.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Finally, Raymond James cut their price target on shares of Bath & Body Works from $51.00 to $42.00 and set an "outperform" rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.88.

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.