Aigen Investment Management LP Takes Position in Bath & Body Works, Inc. (NYSE:BBWI)

Aigen Investment Management LP bought a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,524 shares of the company’s stock, valued at approximately $368,000.

Other large investors have also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. purchased a new stake in shares of Bath & Body Works in the third quarter worth $15,169,000. Los Angeles Capital Management LLC raised its holdings in shares of Bath & Body Works by 404.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company’s stock valued at $4,295,000 after acquiring an additional 107,868 shares in the last quarter. River Global Investors LLP boosted its position in shares of Bath & Body Works by 22.2% during the 3rd quarter. River Global Investors LLP now owns 40,081 shares of the company’s stock valued at $1,279,000 after acquiring an additional 7,286 shares during the last quarter. Summit Global Investments grew its holdings in shares of Bath & Body Works by 57.4% during the third quarter. Summit Global Investments now owns 15,783 shares of the company’s stock worth $504,000 after purchasing an additional 5,753 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Bath & Body Works by 328.7% in the third 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 during the last quarter. 95.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BBWI shares. Barclays lowered shares of Bath & Body Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $31.00 to $28.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. cut 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 target price 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. Deutsche Bank Aktiengesellschaft dropped 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. Finally, The Goldman Sachs Group reduced their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. 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 has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $31.34 on Friday. The company has a market capitalization of $6.87 billion, a P/E ratio of 7.59, a PEG ratio of 1.00 and a beta of 1.79. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The stock has a 50 day moving average price of $30.12 and a two-hundred day moving average price of $36.60.

Bath & Body Works (NYSE:BBWI) last posted 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. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, equities analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.55%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.37%.

Insider Activity

In related news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired 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 directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.

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.