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

Redwood Investment Management LLC boosted its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,813 shares of the company's stock after buying an additional 15,342 shares during the period. Redwood Investment Management LLC owned 0.06% of Bath & Body Works worth $4,075,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Lone Pine Capital LLC grew its position in shares of 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 valued at $441,871,000 after purchasing an additional 1,547,399 shares in the last quarter. Anomaly Capital Management LP purchased a new stake in shares of Bath & Body Works in the second quarter valued at approximately $113,995,000. FMR LLC grew its position in shares of Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company's stock valued at $80,315,000 after purchasing an additional 2,501,828 shares in the last quarter. Sound Shore Management Inc. CT grew its position in shares of Bath & Body Works by 10.0% in the second quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company's stock valued at $81,564,000 after purchasing an additional 189,889 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company's stock valued at $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the business's stock in a transaction on Wednesday, October 9th. The shares were bought at an average cost 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 approximately $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Bath & Body Works Price Performance

Shares of NYSE BBWI traded down $1.32 during mid-day trading on Thursday, hitting $36.78. The company had a trading volume of 4,366,188 shares, compared to its average volume of 4,006,479. The company has a market capitalization of $7.97 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.38 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 $31.62 and its 200 day simple moving average is $35.23.

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

Bath & Body Works Dividend Announcement

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 2.18%. The ex-dividend date is Friday, November 22nd. Bath & Body Works's dividend payout ratio is presently 19.51%.

Analyst Ratings Changes

BBWI has been the subject of several analyst reports. Telsey Advisory Group reiterated an "outperform" rating and issued a $42.00 price objective on shares of Bath & Body Works in a research report on Monday, November 25th. JPMorgan Chase & Co. increased their price objective on Bath & Body Works from $35.00 to $39.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Piper Sandler increased their price objective on Bath & Body Works from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Wells Fargo & Company increased their price objective on Bath & Body Works from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Bath & Body Works from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.88.

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.