Citigroup Inc. Purchases 140,221 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Citigroup Inc. boosted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 59.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 374,664 shares of the company’s stock after purchasing an additional 140,221 shares during the period. Citigroup Inc. owned about 0.17% of Bath & Body Works worth $11,959,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BBWI. First Community Trust NA acquired a new position in shares of Bath & Body Works during the 2nd quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after acquiring an additional 900 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Bath & Body Works by 480.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,436 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Bath & Body Works by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock valued at $72,000 after purchasing an additional 730 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in Bath & Body Works during the 3rd quarter worth approximately $103,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Trading Up 1.9 %

Shares of Bath & Body Works stock opened at $35.90 on Friday. The company has a market cap of $7.87 billion, a P/E ratio of 8.76, a PEG ratio of 1.14 and a beta of 1.79. The business has a 50-day moving average price of $30.93 and a two-hundred day moving average price of $35.65. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Equities research analysts forecast that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. Bath & Body Works’s dividend payout ratio is currently 19.51%.

Insider Activity at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 2.53 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BBWI. UBS Group decreased their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Robert W. Baird lowered their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Barclays increased their target price on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday. Telsey Advisory Group restated an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a report on Monday. Finally, Wells Fargo & Company raised their price objective on shares of Bath & Body Works from $32.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday. One investment 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. According to data from MarketBeat.com, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus 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.