Price T Rowe Associates Inc. MD reduced its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 64.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,243,890 shares of the company’s stock after selling 4,120,363 shares during the period. Price T Rowe Associates Inc. MD owned about 0.98% of Bath & Body Works worth $73,152,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBWI. First Horizon Advisors Inc. increased its holdings in Bath & Body Works by 151.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,149 shares of the company’s stock worth $36,000 after purchasing an additional 692 shares in the last quarter. CoreCap Advisors LLC bought a new stake in Bath & Body Works during the 2nd quarter worth approximately $39,000. AlphaCentric Advisors LLC bought a new position in shares of Bath & Body Works in the third quarter valued at approximately $56,000. Wipfli Financial Advisors LLC bought a new position in shares of Bath & Body Works in the third quarter valued at approximately $66,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Bath & Body Works by 162.1% in the third quarter. Rockefeller Capital Management L.P. now owns 2,241 shares of the company’s stock valued at $73,000 after acquiring an additional 1,386 shares in the last quarter. 96.34% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on BBWI. Raymond James reduced their target price on Bath & Body Works from $52.00 to $50.00 and set a “strong-buy” rating for the company in a report on Friday, February 24th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Bath & Body Works in a report on Thursday, February 23rd. Barclays upped their target price on Bath & Body Works from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, February 22nd. Bank of America upped their target price on Bath & Body Works from $48.00 to $50.00 in a report on Thursday, November 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Bath & Body Works from $55.00 to $47.00 in a research note on Friday, February 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus price target of $49.52.
Bath & Body Works Stock Performance
Bath & Body Works Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 3rd. Stockholders of record on Friday, February 17th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. Bath & Body Works’s payout ratio is currently 23.19%.
Bath & Body Works Company Profile
Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.
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