Charles Schwab Investment Management Inc. Cuts Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Charles Schwab Investment Management Inc. trimmed its position in Bath & Body Works, Inc. (NYSE:BBWI) by 24.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,508,812 shares of the company’s stock after selling 475,962 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bath & Body Works were worth $48,161,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Anomaly Capital Management LP purchased a new stake in Bath & Body Works in the 2nd quarter valued at $113,995,000. 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 purchasing an additional 1,683,160 shares during the period. Lone Pine Capital LLC boosted its holdings in Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after purchasing an additional 1,547,399 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Bath & Body Works by 723.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock valued at $37,268,000 after buying an additional 1,025,757 shares during the period. Finally, Interval Partners LP increased its holdings in shares of Bath & Body Works by 230.0% during the 2nd quarter. Interval Partners LP now owns 1,280,593 shares of the company’s stock worth $50,007,000 after buying an additional 892,488 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on BBWI shares. Morgan Stanley reduced their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. UBS Group cut their target price on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Evercore ISI lowered their price target on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, August 28th. Citigroup cut their price objective on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Finally, BMO Capital Markets restated an “outperform” rating and set a $50.00 target price (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Insider Activity at Bath & Body Works

In related news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Bath & Body Works Trading Up 0.9 %

Shares of NYSE BBWI opened at $36.24 on Monday. The stock has a market cap of $7.85 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.36 and a beta of 1.79. Bath & Body Works, Inc. has a twelve month low of $26.20 and a twelve month high of $52.99. The stock has a 50 day moving average of $31.19 and a two-hundred day moving average of $35.48.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s dividend payout ratio is presently 19.51%.

About Bath & Body Works

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.