KBC Group NV Acquires 1,683,160 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

KBC Group NV raised its stake in shares of Bath & Body Works, Inc. (NYSE:BBWIFree Report) by 9,023.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,701,813 shares of the company’s stock after purchasing an additional 1,683,160 shares during the period. KBC Group NV’s holdings in Bath & Body Works were worth $54,322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in Bath & Body Works by 4.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 28,535 shares of the company’s stock worth $911,000 after acquiring an additional 1,231 shares during the last quarter. MQS Management LLC bought a new position in shares of Bath & Body Works during the third quarter valued at about $241,000. Missouri Trust & Investment Co bought a new position in shares of Bath & Body Works during the third quarter valued at about $1,178,000. Aigen Investment Management LP purchased a new position in Bath & Body Works during the third quarter worth about $368,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in Bath & Body Works in the 3rd quarter worth about $15,169,000. 95.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. This trade represents a 2.53 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Bath & Body Works Trading Down 0.9 %

Shares of BBWI stock opened at $31.34 on Friday. The firm’s 50 day moving average is $30.12 and its 200 day moving average is $36.60. The stock has a market capitalization of $6.87 billion, a P/E ratio of 7.59, a PEG ratio of 1.00 and a beta of 1.79. Bath & Body Works, Inc. has a 12 month low of $26.20 and a 12 month high of $52.99.

Bath & Body Works (NYSE:BBWIGet Free Report) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities analysts predict that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.55%. Bath & Body Works’s dividend payout ratio is currently 19.37%.

Analyst Upgrades and Downgrades

Several research firms have commented on BBWI. UBS Group dropped their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Robert W. Baird dropped their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. BMO Capital Markets restated an “outperform” rating and issued a $50.00 price objective (down previously from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Morgan Stanley cut their price target on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.44.

Read Our Latest Research Report on BBWI

Bath & Body Works Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bath & Body Works (NYSE:BBWI)

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