Western Standard LLC Takes Position in Bath & Body Works, Inc. $BBWI

Western Standard LLC purchased a new stake in Bath & Body Works, Inc. (NYSE:BBWI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 263,061 shares of the company’s stock, valued at approximately $6,776,000. Bath & Body Works makes up approximately 2.0% of Western Standard LLC’s investment portfolio, making the stock its 10th largest holding. Western Standard LLC owned about 0.13% of Bath & Body Works as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of BBWI. First Horizon Corp acquired a new stake in Bath & Body Works during the third quarter worth approximately $29,000. Geneos Wealth Management Inc. increased its position in shares of Bath & Body Works by 217.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock valued at $35,000 after purchasing an additional 801 shares during the last quarter. Carolina Wealth Advisors LLC bought a new stake in shares of Bath & Body Works in the third quarter valued at $54,000. Parkside Financial Bank & Trust lifted its stake in shares of Bath & Body Works by 24.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,842 shares of the company’s stock valued at $55,000 after buying an additional 364 shares in the last quarter. Finally, Westfuller Advisors LLC bought a new position in shares of Bath & Body Works in the third quarter valued at approximately $56,000. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Up 2.9%

Shares of BBWI opened at $23.32 on Friday. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 1.00 and a beta of 1.54. The stock’s 50-day moving average price is $22.07 and its 200-day moving average price is $23.79. Bath & Body Works, Inc. has a 52 week low of $14.27 and a 52 week high of $38.28.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, February 20th. Bath & Body Works’s payout ratio is presently 24.62%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BBWI shares. Guggenheim initiated coverage on Bath & Body Works in a report on Tuesday, December 9th. They set a “neutral” rating on the stock. Raymond James Financial reissued a “market perform” rating on shares of Bath & Body Works in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bath & Body Works in a report on Wednesday, January 21st. Barclays lifted their price target on shares of Bath & Body Works from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, The Goldman Sachs Group downgraded Bath & Body Works from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $39.00 to $17.00 in a research report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.71.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.