Barclays PLC Reduces Position in Bath & Body Works, Inc. (NYSE:BBWI)

Barclays PLC trimmed its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 18.3% in the third quarter, HoldingsChannel.com reports. The fund owned 481,490 shares of the company’s stock after selling 108,070 shares during the quarter. Barclays PLC’s holdings in Bath & Body Works were worth $15,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BBWI. Nomura Asset Management Co. Ltd. raised its stake in Bath & Body Works by 30.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 137,610 shares of the company’s stock valued at $4,393,000 after purchasing an additional 32,233 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Bath & Body Works by 1,078.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company’s stock worth $1,575,000 after purchasing an additional 45,144 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Bath & Body Works during the third quarter worth about $8,129,000. Weiss Asset Management LP raised its position in shares of Bath & Body Works by 29.0% in the third quarter. Weiss Asset Management LP now owns 377,969 shares of the company’s stock valued at $12,065,000 after buying an additional 84,873 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Bath & Body Works by 31.2% during the third quarter. Quantinno Capital Management LP now owns 56,661 shares of the company’s stock valued at $1,809,000 after buying an additional 13,485 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This represents a 2.53 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on BBWI shares. Robert W. Baird lowered their target price on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Piper Sandler upped their target price on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased their target price on Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on Bath & Body Works from $38.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Bank of America cut their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Bath & Body Works Trading Up 2.2 %

Shares of BBWI stock opened at $38.22 on Monday. The company’s fifty day simple moving average is $32.59 and its 200-day simple moving average is $34.59. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The company has a market cap of $8.28 billion, a PE ratio of 9.32, a P/E/G ratio of 1.44 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Monday, November 25th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company posted $0.48 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts expect that Bath & Body Works, Inc. will post 3.26 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, November 22nd. Bath & Body Works’s dividend payout ratio is presently 19.51%.

Bath & Body Works Profile

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.