Meeder Asset Management Inc. Trims Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Meeder Asset Management Inc. lowered its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 64.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,614 shares of the company’s stock after selling 2,895 shares during the quarter. Meeder Asset Management Inc.’s holdings in Bath & Body Works were worth $81,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BBWI. Denali Advisors LLC purchased a new stake in shares of Bath & Body Works during the fourth quarter worth about $27,000. GAMMA Investing LLC bought a new stake in shares of Bath & Body Works in the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Bath & Body Works in the 4th quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its stake in shares of Bath & Body Works by 72.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after purchasing an additional 337 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Bath & Body Works in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 1.4 %

Shares of NYSE:BBWI traded down $0.54 on Monday, reaching $36.80. The company had a trading volume of 3,102,533 shares, compared to its average volume of 2,848,233. Bath & Body Works, Inc. has a 52-week low of $27.30 and a 52-week high of $52.99. The firm’s 50 day simple moving average is $44.20 and its 200-day simple moving average is $44.77. The firm has a market capitalization of $8.21 billion, a PE ratio of 9.48, a PEG ratio of 1.23 and a beta of 1.85.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business posted $0.33 EPS. The business’s revenue was down .9% compared to the same quarter last year. As a group, equities research analysts predict that Bath & Body Works, Inc. will post 3.29 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.20 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.17%. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BBWI shares. Telsey Advisory Group reissued an “outperform” rating and set a $53.00 price target on shares of Bath & Body Works in a research note on Tuesday, June 4th. BMO Capital Markets raised their price target on Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. raised Bath & Body Works from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $40.00 to $53.00 in a research note on Friday, May 17th. Wells Fargo & Company raised their price target on Bath & Body Works from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Bath & Body Works from $53.00 to $57.00 in a research note on Monday, June 3rd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.13.

About Bath & Body Works

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.