Oppenheimer & Co. Inc. Sells 3,702 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Oppenheimer & Co. Inc. decreased its position in shares of Bath & Body Works, Inc. (NYSE:BBWIFree Report) by 13.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,329 shares of the company’s stock after selling 3,702 shares during the period. Oppenheimer & Co. Inc.’s holdings in Bath & Body Works were worth $789,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP raised its holdings in shares of Bath & Body Works by 2,360.0% during the 1st quarter. Davidson Kempner Capital Management LP now owns 2,391,104 shares of the company’s stock valued at $87,467,000 after buying an additional 2,293,904 shares in the last quarter. Norges Bank purchased a new stake in Bath & Body Works in the fourth quarter worth approximately $87,870,000. Renaissance Technologies LLC purchased a new stake in Bath & Body Works in the first quarter worth approximately $84,383,000. Alliancebernstein L.P. boosted its stake in Bath & Body Works by 507.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,964,651 shares of the company’s stock worth $82,790,000 after buying an additional 1,641,108 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Bath & Body Works by 63.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,660,557 shares of the company’s stock worth $154,255,000 after buying an additional 1,416,667 shares in the last quarter. Institutional investors own 94.31% of the company’s stock.

Bath & Body Works Stock Up 0.6 %

Shares of Bath & Body Works stock opened at $44.37 on Friday. The company has a market cap of $10.02 billion, a PE ratio of 13.91, a P/E/G ratio of 2.28 and a beta of 1.85. The business has a 50 day moving average of $41.97 and a 200 day moving average of $36.57. Bath & Body Works, Inc. has a 52 week low of $27.30 and a 52 week high of $46.24.

Bath & Body Works (NYSE:BBWIGet Free Report) last announced its earnings results on Thursday, November 16th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.13. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. Bath & Body Works had a negative return on equity of 32.64% and a net margin of 9.90%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, research analysts anticipate that Bath & Body Works, Inc. will post 3.07 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on BBWI. Telsey Advisory Group cut their target price on Bath & Body Works from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, November 17th. JPMorgan Chase & Co. lowered Bath & Body Works from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $41.00 to $27.00 in a research note on Tuesday, October 24th. Wells Fargo & Company increased their price objective on Bath & Body Works from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, December 22nd. Barclays lowered Bath & Body Works from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $37.00 to $45.00 in a research note on Thursday, January 4th. Finally, Raymond James dropped their price objective on Bath & Body Works from $48.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.14.

Check Out Our Latest Research Report on BBWI

About Bath & Body Works

(Free Report)

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.

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

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