Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Posted by Defense World Staff on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,201 shares of the company’s stock after selling 3,312 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bath & Body Works were worth $851,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. State Street Corp raised its stake in Bath & Body Works by 0.6% in the 3rd quarter. State Street Corp now owns 10,038,767 shares of the company’s stock valued at $327,264,000 after purchasing an additional 58,201 shares during the last quarter. Third Point LLC acquired a new position in Bath & Body Works in the 3rd quarter valued at $265,201,000. Price T Rowe Associates Inc. MD raised its stake in Bath & Body Works by 8.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,364,253 shares of the company’s stock valued at $171,326,000 after purchasing an additional 484,674 shares during the last quarter. Balyasny Asset Management LLC acquired a new position in Bath & Body Works in the 3rd quarter valued at $94,163,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Bath & Body Works by 34.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,830,984 shares of the company’s stock valued at $135,321,000 after purchasing an additional 726,384 shares during the last quarter. 96.34% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Price Performance

BBWI stock opened at $37.71 on Friday. The firm has a market capitalization of $8.63 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.98 and a beta of 1.70. The business’s 50-day moving average is $35.57 and its two-hundred day moving average is $39.71. Bath & Body Works, Inc. has a 1 year low of $25.75 and a 1 year high of $49.55.

Bath & Body Works (NYSE:BBWI – Get Rating) last posted its quarterly earnings results on Thursday, May 18th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Bath & Body Works had a negative return on equity of 29.65% and a net margin of 9.67%. Bath & Body Works’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. On average, analysts expect that Bath & Body Works, Inc. will post 2.99 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, June 1st. Bath & Body Works’s dividend payout ratio (DPR) is presently 25.32%.

Insider Transactions at Bath & Body Works

In other news, CFO Wendy C. Arlin sold 1,625 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $38.29, for a total transaction of $62,221.25. Following the sale, the chief financial officer now owns 91,072 shares of the company’s stock, valued at approximately $3,487,146.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

BBWI has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on Bath & Body Works from $46.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, April 10th. Raymond James downgraded Bath & Body Works from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $50.00 to $48.00 in a research note on Thursday, April 6th. Morgan Stanley cut their target price on Bath & Body Works from $76.00 to $61.00 in a research note on Friday, May 19th. Credit Suisse Group raised their target price on Bath & Body Works from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, February 24th. Finally, JPMorgan Chase & Co. cut their target price on Bath & Body Works from $48.00 to $38.00 in a research note on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.45.

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.

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

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