Pathstone Holdings LLC Sells 29,325 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Pathstone Holdings LLC lessened its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 41.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,230 shares of the company’s stock after selling 29,325 shares during the period. Pathstone Holdings LLC’s holdings in Bath & Body Works were worth $1,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lone Pine Capital LLC boosted its holdings in Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after acquiring an additional 1,547,399 shares during the last quarter. Anomaly Capital Management LP bought a new stake in shares of Bath & Body Works in the 2nd quarter valued at $113,995,000. Sound Shore Management Inc. CT increased its position in shares of Bath & Body Works by 10.0% during the second quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after buying an additional 189,889 shares during the period. KBC Group NV raised its stake in Bath & Body Works by 9,023.5% during the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after buying an additional 1,683,160 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Bath & Body Works by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,303,487 shares of the company’s stock valued at $50,901,000 after buying an additional 86,204 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BBWI. Raymond James dropped their price objective on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Bank of America cut their price target on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Piper Sandler lifted their price objective on shares of Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley cut their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Trading Up 1.9 %

NYSE BBWI opened at $35.90 on Friday. The business has a fifty day simple moving average of $30.93 and a 200 day simple moving average of $35.65. Bath & Body Works, Inc. has a 12 month low of $26.20 and a 12 month high of $52.99. The firm has a market capitalization of $7.87 billion, a P/E ratio of 8.76, a PEG ratio of 1.14 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. As a group, sell-side analysts predict that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed 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 2.23%. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Insiders Place Their Bets

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was purchased at an average cost of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This trade represents a 2.53 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Bath & Body Works Company 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.