CIBC Asset Management Inc Has $673,000 Position in Bath & Body Works, Inc. (NYSE:BBWI)

CIBC Asset Management Inc cut its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 27.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,078 shares of the company’s stock after selling 7,909 shares during the quarter. CIBC Asset Management Inc’s holdings in Bath & Body Works were worth $673,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BBWI. CWM LLC increased its position in Bath & Body Works by 6.6% in the 2nd quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after acquiring an additional 314 shares in the last quarter. Northwest Bank & Trust Co raised its position in Bath & Body Works by 2.5% in the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after purchasing an additional 315 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Bath & Body Works by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after buying an additional 322 shares in the last quarter. Citizens & Northern Corp lifted its holdings in Bath & Body Works by 1.7% during the 2nd quarter. Citizens & Northern Corp now owns 29,465 shares of the company’s stock worth $1,151,000 after buying an additional 487 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Bath & Body Works by 23.4% in the 2nd quarter. Blue Trust Inc. now owns 2,767 shares of the company’s stock valued at $108,000 after buying an additional 524 shares during the period. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Stock Up 0.3 %

Bath & Body Works stock opened at $30.52 on Thursday. The company has a 50 day moving average of $30.41 and a 200-day moving average of $36.14. Bath & Body Works, Inc. has a twelve month low of $26.20 and a twelve month high of $52.99. The stock has a market capitalization of $6.69 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 1.00 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently announced 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. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s payout ratio is 19.37%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lowered Bath & Body Works from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $31.00 to $28.00 in a research note on Friday, November 8th. Telsey Advisory Group restated an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a research report on Monday. Bank of America dropped their price target on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Citigroup reduced their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Finally, Evercore ISI dropped their price objective on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.44.

Insiders Place Their Bets

In related news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Bath & Body Works 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.