DnB Asset Management AS Sells 8,000 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

DnB Asset Management AS decreased its position in shares of Bath & Body Works, Inc. (NYSE:BBWIGet Rating) by 17.2% during the second quarter, Holdings Channel.com reports. The fund owned 38,568 shares of the company’s stock after selling 8,000 shares during the quarter. DnB Asset Management AS’s holdings in Bath & Body Works were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BBWI. Prospera Financial Services Inc bought a new stake in shares of Bath & Body Works during the first quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Bath & Body Works by 119.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 525 shares of the company’s stock valued at $26,000 after buying an additional 286 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Bath & Body Works by 490.9% during the first quarter. EverSource Wealth Advisors LLC now owns 585 shares of the company’s stock valued at $28,000 after buying an additional 486 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Bath & Body Works during the fourth quarter valued at approximately $30,000. Finally, First Horizon Advisors Inc. raised its position in shares of Bath & Body Works by 361.4% during the first quarter. First Horizon Advisors Inc. now owns 646 shares of the company’s stock valued at $31,000 after buying an additional 506 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Bath & Body Works Price Performance

BBWI stock opened at $37.01 on Thursday. The business has a 50-day moving average price of $36.68 and a 200 day moving average price of $40.79. The company has a market capitalization of $8.45 billion, a P/E ratio of 9.82, a PEG ratio of 0.93 and a beta of 1.77. Bath & Body Works, Inc. has a 1-year low of $25.75 and a 1-year high of $82.00.

Bath & Body Works (NYSE:BBWIGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.11. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. Bath & Body Works had a negative return on equity of 52.60% and a net margin of 12.31%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. On average, analysts anticipate that Bath & Body Works, Inc. will post 2.88 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 18th. This represents a $0.80 annualized dividend and a dividend yield of 2.16%. Bath & Body Works’s payout ratio is currently 21.22%.

Wall Street Analyst Weigh In

BBWI has been the topic of several recent analyst reports. Piper Sandler reduced their price objective on shares of Bath & Body Works to $44.00 in a research report on Friday, July 22nd. Barclays raised their target price on shares of Bath & Body Works from $33.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 19th. UBS Group cut their target price on shares of Bath & Body Works from $70.00 to $42.00 and set a “buy” rating for the company in a report on Friday, July 15th. Wells Fargo & Company raised their target price on shares of Bath & Body Works from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, August 18th. Finally, Robert W. Baird raised their target price on shares of Bath & Body Works from $40.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

About Bath & Body Works

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Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.

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

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