Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Bath & Body Works, Inc. (NYSE:BBWIGet Rating) by 65.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,013 shares of the company’s stock after selling 44,410 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bath & Body Works were worth $750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BBWI. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Bath & Body Works by 12.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,672 shares of the company’s stock valued at $940,000 after purchasing an additional 2,228 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Bath & Body Works by 3.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,484 shares of the company’s stock valued at $1,648,000 after purchasing an additional 1,301 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Bath & Body Works by 253.4% in the 1st quarter. Vontobel Holding Ltd. now owns 44,967 shares of the company’s stock valued at $2,244,000 after purchasing an additional 32,242 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its stake in shares of Bath & Body Works by 127.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 27,922 shares of the company’s stock valued at $1,335,000 after purchasing an additional 15,642 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Bath & Body Works by 54.3% in the 1st quarter. Baird Financial Group Inc. now owns 113,805 shares of the company’s stock valued at $5,440,000 after purchasing an additional 40,046 shares during the last quarter. Institutional investors and hedge funds own 96.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BBWI. Argus upped their price target on Bath & Body Works from $45.00 to $50.00 in a research note on Wednesday, December 7th. Barclays decreased their price target on Bath & Body Works to $39.00 in a research note on Monday, November 21st. Wells Fargo & Company lowered Bath & Body Works from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $55.00 to $46.00 in a research note on Friday, January 6th. Piper Sandler increased their target price on Bath & Body Works from $50.00 to $52.00 in a research note on Tuesday, January 3rd. Finally, Citigroup increased their target price on Bath & Body Works from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.52.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $45.01 on Monday. Bath & Body Works, Inc. has a 1-year low of $25.75 and a 1-year high of $62.26. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 0.99 and a beta of 1.67. The stock’s 50-day moving average is $42.12 and its two-hundred day moving average is $37.52.

Bath & Body Works (NYSE:BBWIGet Rating) last released its quarterly earnings data on Wednesday, November 16th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.21. Bath & Body Works had a negative return on equity of 40.90% and a net margin of 12.48%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.56 billion. Equities research analysts anticipate that Bath & Body Works, Inc. will post 3.15 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. Bath & Body Works’s payout ratio is currently 20.83%.

Bath & Body Works Profile

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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.

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

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