Western Standard LLC Invests $6.78 Million in Bath & Body Works, Inc. $BBWI

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

A number of other hedge funds and other institutional investors also recently modified their holdings of BBWI. First Horizon Corp acquired a new position in shares of Bath & Body Works in the 3rd quarter worth $29,000. Geneos Wealth Management Inc. boosted its position in shares of Bath & Body Works by 217.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock worth $35,000 after buying an additional 801 shares during the period. Carolina Wealth Advisors LLC acquired a new position in shares of Bath & Body Works in the third quarter worth $54,000. Parkside Financial Bank & Trust grew its holdings in Bath & Body Works by 24.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,842 shares of the company’s stock valued at $55,000 after purchasing an additional 364 shares during the last quarter. Finally, Westfuller Advisors LLC bought a new position in Bath & Body Works in the 3rd quarter worth $56,000. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $23.32 on Friday. The firm has a market cap of $4.77 billion, a PE ratio of 7.18, a price-to-earnings-growth ratio of 1.00 and a beta of 1.54. The firm’s fifty day moving average is $22.07 and its 200-day moving average 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 given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. Bath & Body Works’s payout ratio is presently 24.62%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BBWI. JPMorgan Chase & Co. cut their target price on shares of Bath & Body Works from $26.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Deutsche Bank Aktiengesellschaft began coverage on Bath & Body Works in a research report on Thursday, January 8th. They set a “hold” rating and a $21.00 target price on the stock. The Goldman Sachs Group cut Bath & Body Works from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $39.00 to $17.00 in a report on Thursday, November 20th. Citigroup lowered Bath & Body Works from a “buy” rating to a “neutral” rating and raised their target price for the company from $21.00 to $25.00 in a research note on Tuesday, February 17th. Finally, Wells Fargo & Company lowered their target price on shares of Bath & Body Works from $33.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, November 21st. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, Bath & Body Works presently has an average rating of “Hold” and a consensus price target of $23.71.

Bath & Body Works Profile

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.