Lecap Asset Management Ltd. Purchases 16,830 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Lecap Asset Management Ltd. lifted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,863 shares of the company's stock after purchasing an additional 16,830 shares during the quarter. Bath & Body Works makes up about 0.8% of Lecap Asset Management Ltd.'s holdings, making the stock its 16th biggest position. Lecap Asset Management Ltd. owned approximately 0.05% of Bath & Body Works worth $3,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Anomaly Capital Management LP bought a new stake in shares of Bath & Body Works in the 2nd quarter worth approximately $113,995,000. Lone Pine Capital LLC raised its position in Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company's stock worth $441,871,000 after purchasing an additional 1,547,399 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company's stock worth $1,370,458,000 after purchasing an additional 1,102,124 shares during the period. Interval Partners LP boosted its holdings in Bath & Body Works by 230.0% during the second quarter. Interval Partners LP now owns 1,280,593 shares of the company's stock valued at $50,007,000 after purchasing an additional 892,488 shares in the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Bath & Body Works in the 2nd quarter valued at approximately $25,867,000. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Stock Performance

NYSE BBWI traded down $0.35 during trading hours on Wednesday, reaching $29.47. 3,380,692 shares of the company's stock were exchanged, compared to its average volume of 3,695,116. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The company's 50-day moving average is $30.87 and its two-hundred day moving average is $38.23. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 0.94 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. Research analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Friday, August 23rd. Bath & Body Works's payout ratio is presently 20.62%.

Insider Activity at Bath & Body Works

In other news, CEO Gina Boswell purchased 6,000 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Bath & Body Works from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Raymond James reduced their price objective on Bath & Body Works from $51.00 to $42.00 and set an "outperform" rating on the stock in a research note on Thursday, August 29th. Bank of America lowered their target price on Bath & Body Works from $54.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Evercore ISI lowered their price objective on shares of Bath & Body Works from $45.00 to $35.00 and set an "in-line" rating for the company in a research report on Wednesday, August 28th. Finally, Citigroup decreased their price target on shares of Bath & Body Works from $48.00 to $35.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $42.35.

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.