Asset Management One Co. Ltd. Sells 13,426 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Posted by on May 2nd, 2023

Asset Management One Co. Ltd. decreased its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,407 shares of the company’s stock after selling 13,426 shares during the period. Asset Management One Co. Ltd.’s holdings in Bath & Body Works were worth $3,726,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BBWI. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Bath & Body Works by 12.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,672 shares of the company’s stock valued at $940,000 after purchasing an additional 2,228 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Bath & Body Works by 3.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,484 shares of the company’s stock valued at $1,648,000 after purchasing an additional 1,301 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Bath & Body Works by 253.4% during the 1st quarter. Vontobel Holding Ltd. now owns 44,967 shares of the company’s stock valued at $2,244,000 after acquiring an additional 32,242 shares during the period. Candriam Luxembourg S.C.A. lifted its position in Bath & Body Works by 127.4% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 27,922 shares of the company’s stock valued at $1,335,000 after acquiring an additional 15,642 shares during the period. Finally, Baird Financial Group Inc. lifted its position in Bath & Body Works by 54.3% during the 1st quarter. Baird Financial Group Inc. now owns 113,805 shares of the company’s stock valued at $5,440,000 after acquiring an additional 40,046 shares during the period. Institutional investors own 96.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BBWI shares. UBS Group cut shares of Bath & Body Works from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 29th. Argus cut shares of Bath & Body Works from a “buy” rating to a “hold” rating in a research report on Friday, March 17th. Telsey Advisory Group reissued an “outperform” rating and set a $52.00 price target on shares of Bath & Body Works in a research report on Thursday, February 23rd. Credit Suisse Group lifted their price target on shares of Bath & Body Works from $42.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, February 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bath & Body Works from $40.00 to $43.00 in a research report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Hold” and an average target price of $48.43.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CFO Wendy C. Arlin sold 1,625 shares of the company’s stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $38.29, for a total transaction of $62,221.25. Following the completion of the sale, the chief financial officer now directly owns 91,072 shares of the company’s stock, valued at $3,487,146.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

Bath & Body Works Trading Down 0.7 %

Shares of BBWI stock opened at $34.86 on Tuesday. Bath & Body Works, Inc. has a 12 month low of $25.75 and a 12 month high of $54.93. The stock has a market cap of $7.97 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.94 and a beta of 1.70. The company has a 50 day simple moving average of $37.02 and a two-hundred day simple moving average of $39.43.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $0.80 dividend on an annualized basis and a yield of 2.29%. Bath & Body Works’s dividend payout ratio is currently 23.19%.

About Bath & Body Works

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

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