AdvisorShares Investments LLC Makes New $420,000 Investment in Bath & Body Works, Inc. (NYSE:BBWI)

AdvisorShares Investments LLC purchased a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the second quarter, according to its most recent filing with the SEC. The firm purchased 10,930 shares of the company’s stock, valued at approximately $420,000.

A number of other large investors have also recently bought and sold shares of BBWI. Envestnet Portfolio Solutions Inc. grew its stake in shares of Bath & Body Works by 5.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock valued at $279,000 after buying an additional 277 shares during the period. Empirical Finance LLC grew its stake in shares of Bath & Body Works by 3.6% in the 1st quarter. Empirical Finance LLC now owns 8,097 shares of the company’s stock valued at $405,000 after buying an additional 278 shares during the period. Comerica Bank grew its stake in shares of Bath & Body Works by 0.9% in the 4th quarter. Comerica Bank now owns 33,091 shares of the company’s stock valued at $1,428,000 after buying an additional 280 shares during the period. CWM LLC grew its stake in shares of Bath & Body Works by 6.6% in the 2nd quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after buying an additional 314 shares during the period. Finally, Northwest Bank & Trust Co grew its stake in shares of Bath & Body Works by 2.5% in the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock valued at $655,000 after buying an additional 315 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Up 1.0 %

Bath & Body Works stock opened at $26.99 on Thursday. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The company’s 50 day moving average price is $33.76 and its two-hundred day moving average price is $41.62. The stock has a market cap of $6.03 billion, a P/E ratio of 6.96, a P/E/G ratio of 0.97 and a beta of 1.77.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a dividend of $0.20 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.96%. Bath & Body Works’s dividend payout ratio is currently 20.62%.

Analyst Ratings Changes

Several brokerages have recently commented on BBWI. Robert W. Baird reduced their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Piper Sandler reduced their target price on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. reduced their target price on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Morgan Stanley cut their price target on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.