Commonwealth Equity Services LLC Decreases Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Commonwealth Equity Services LLC lowered its stake in Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,353 shares of the company’s stock after selling 353 shares during the period. Commonwealth Equity Services LLC’s holdings in Bath & Body Works were worth $604,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Boyd Watterson Asset Management LLC OH bought a new stake in shares of Bath & Body Works during the 4th quarter valued at $28,000. First Horizon Advisors Inc. boosted its stake in Bath & Body Works by 151.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,149 shares of the company’s stock worth $36,000 after purchasing an additional 692 shares in the last quarter. Signaturefd LLC boosted its stake in Bath & Body Works by 60.7% in the 4th quarter. Signaturefd LLC now owns 1,289 shares of the company’s stock worth $54,000 after purchasing an additional 487 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in Bath & Body Works in the 3rd quarter worth about $56,000. Finally, Rockefeller Capital Management L.P. boosted its stake in Bath & Body Works by 162.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,241 shares of the company’s stock worth $73,000 after purchasing an additional 1,386 shares in the last quarter. Institutional investors own 96.34% of the company’s stock.

Bath & Body Works Price Performance

BBWI stock opened at $36.64 on Friday. Bath & Body Works, Inc. has a 1-year low of $25.75 and a 1-year high of $49.55. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.00 and a beta of 1.70. The business has a 50 day simple moving average of $35.39 and a two-hundred day simple moving average of $39.53.

Bath & Body Works (NYSE:BBWI – Get Rating) last posted its quarterly earnings results on Thursday, May 18th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Bath & Body Works had a negative return on equity of 29.65% and a net margin of 9.67%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Bath & Body Works, Inc. will post 2.98 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $0.80 annualized dividend and a yield of 2.18%. Bath & Body Works’s payout ratio is 25.32%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BBWI. Morgan Stanley dropped their price target on shares of Bath & Body Works from $76.00 to $61.00 in a research note on Friday, May 19th. Wells Fargo & Company decreased their target price on Bath & Body Works from $46.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, April 10th. Cowen boosted their target price on Bath & Body Works from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Credit Suisse Group boosted their target price on Bath & Body Works from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $52.00 target price on shares of Bath & Body Works in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.45.

Insiders Place Their Bets

In other news, CFO Wendy C. Arlin sold 1,625 shares of the stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $38.29, for a total transaction of $62,221.25. Following the completion of the transaction, the chief financial officer now directly owns 91,072 shares in the company, valued at approximately $3,487,146.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

About Bath & Body Works

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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.