5 Best Buy-The-Dip Consumer Stocks to Consider

3. Bath & Body Works, Inc. (NYSE:BBWI)

Number of Hedge Fund Holders: 57

YTD Share Price Decline as of July 1: 59.95%

Bath & Body Works, Inc. (NYSE:BBWI) was founded in 1963 and is headquartered in Columbus, Ohio. The company markets and sells home fragrance, body care, soaps, and sanitizer products. The stock has dropped about 60% year to date as of July 1. Although the shares have crashed, the company enjoys solid customer loyalty and brand recognition.

On June 30, Piper Sandler analyst Korinne Wolfmeyer initiated coverage of Bath & Body Works, Inc. (NYSE:BBWI) with an Overweight rating and a $58 price target. The analyst observed that Bath & Body Works, Inc. (NYSE:BBWI) has a “repeat business model” in a category that proved to be robust during and after the pandemic. The analyst likes the “stickiness” within the home and bath segment, which accounts for more than 50% of Bath & Body Works, Inc. (NYSE:BBWI)’s sales. The company also wants to expand into hair and skin care this fall, two core categories within beauty that are seeing strong demand, added the analyst.

In the first quarter of 2022, 57 hedge funds reported long positions in Bath & Body Works, Inc. (NYSE:BBWI), compared to 62 funds in the last quarter.