SSgA Funds Management, Inc. has recently announced that it has increased stake in Bath & Body Works Inc. (NYSE:BBWI) by 0.58%. After grabbing 10.04 million shares, the institutional investor is now in possession of 58201.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 4.40% having worth around $335.09 million. Moreover, Third Point LLC increased its share by 8.13 million to have a control over 8.13 million shares. And T. Rowe Price Investment Manageme raised its holdings to 8.07 million shares by acquiring 8.07 million shares or 3.54% of the stake.
Bath & Body Works Inc. (BBWI) concluded trading on 11/23/22 at a closing price of $40.40, with 3.16 million shares of worth about $127.61 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.80% during that period and on Wednesday the price saw a loss of about -2.06%. Currently the company’s common shares owned by public are about 230.00M shares, out of which, 222.37M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 42 times over the past 12 months. They bought 170,214 shares in 18 of the transactions. In 24 selling transactions, insiders dumped 176,232 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and T Rowe Price Mid Cap Growth Fund are the top 3 mutual funds which are holding stakes in Bath & Body Works Inc. Vanguard Total Stock Market Index is currently holding 6.5 million shares of worth totaling $216.95 million. The company recently came buying 40437.0 shares which brought its stake up to 2.85% of the company’s outstanding shares. Vanguard 500 Index Fund bought 50129.0 shares, after which its hold over company’s outstanding shares expand to 2.29%, leaving 5.22 million shares with the mutual fund that have a worth of about $174.36 million. T Rowe Price Mid Cap Growth Fund, after buying 4.0 million shares, have now control over 1.75% of the stake in the company. It holds 1.0 million shares of worth $133.37 million.
Bath & Body Works Inc. (NYSE: BBWI) started trading at $41.29, above $0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 41.63, or with a loss of -2.06%. Stock saw a price change of 28.95% in past 5 days and over the past one month there was a price change of 16.43%. Year-to-date (YTD), BBWI shares are showing a performance of -42.11% which decreased to -46.51% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $25.75 but also hit the highest price of $77.91 during that period. The average intraday trading volume for Bath & Body Works Inc. shares is 3.88 million. The stock is currently trading 17.30% above its 20-day simple moving average (SMA20), while that difference is up 16.44% for SMA50 and it goes to -0.42% lower than SMA200.
SSgA Funds Management, Inc. acquired 10.04 million shares of Bath & Body Works Inc. having value of about $335.09 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 58201.0 shares in the company valued at close to $2351320.4, or have control over 0.58% stake in the company. Bath & Body Works Inc. (NYSE: BBWI) currently have 230.00M outstanding shares and institutions hold larger chunk of about 96.70% of that. Holding of mutual funds in the company is about 37.48% while other institutional holders and individual stake holders have control over 59.44% and 0.67% of the stake respectively.
The stock has a current market capitalization of $9.40B and its 3Y-monthly beta is at 1.68. PE ratio of stock for trailing 12 months is 10.57, while it has posted earnings per share of $3.82 in the same period. Its PEG reads 4.08 and has Quick Ratio of 0.60. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BBWI, volatility over the week remained 7.05% while standing at 6.13% over the month.
Analysts are in expectations that Bath & Body Works Inc. (BBWI) stock would likely to be making an EPS of $0.2 in the current quarter, while forecast for next quarter EPS is $1.54 and it is $3.6 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.14 which is $0.33 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.81 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 27.90% while it is estimated to increase by 20.14% in next year. EPS is likely to grow at an annualized rate of 2.59% for next 5-years, compared to annual growth of -0.20% made by the stock over the past 5-years.
Analysts at 21 brokerage firms have issued recommendations for the Bath & Body Works Inc. (BBWI)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 21 Wall Street analysts, 15 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Telsey Advisory Group on August 18, 2022 offering an Outperform rating for the stock and assigned a target price range of between $40 and $52 to it. Coverage by Raymond James stated Bath & Body Works Inc. (BBWI) stock as a Strong buy in their note to investors on July 13, 2022, suggesting a price target of $45 for the stock. On July 13, 2022, Evercore ISI Downgrade their recommendations, while on June 30, 2022, Piper Sandler Initiated their ratings for the stock with a price target of $58. Stock get a Neutral rating from JP Morgan on June 29, 2022.