Swiss National Bank Trims Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Swiss National Bank cut its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWIFree Report) by 10.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 699,600 shares of the company’s stock after selling 85,200 shares during the quarter. Swiss National Bank owned about 0.31% of Bath & Body Works worth $23,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Bath & Body Works by 1.0% in the 1st quarter. BlackRock Inc. now owns 17,074,153 shares of the company’s stock valued at $624,573,000 after purchasing an additional 174,915 shares during the last quarter. Third Point LLC increased its stake in Bath & Body Works by 0.7% during the 2nd quarter. Third Point LLC now owns 13,850,000 shares of the company’s stock worth $519,375,000 after buying an additional 98,900 shares during the period. State Street Corp increased its stake in Bath & Body Works by 0.6% during the 3rd quarter. State Street Corp now owns 10,038,767 shares of the company’s stock worth $327,264,000 after buying an additional 58,201 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Bath & Body Works by 8.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,364,253 shares of the company’s stock worth $171,326,000 after buying an additional 484,674 shares during the period. Finally, Geode Capital Management LLC increased its stake in Bath & Body Works by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,967,764 shares of the company’s stock worth $185,824,000 after buying an additional 242,619 shares during the period. 94.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BBWI. Jefferies Financial Group downgraded shares of Bath & Body Works from a “buy” rating to a “hold” rating and dropped their price objective for the company from $45.00 to $30.00 in a research report on Thursday, October 26th. Barclays downgraded shares of 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 report on Thursday, January 4th. Telsey Advisory Group lowered their target price on shares of Bath & Body Works from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, November 17th. Wells Fargo & Company upped their target price on shares of Bath & Body Works from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, December 22nd. Finally, Evercore ISI lowered their target price on shares of Bath & Body Works from $40.00 to $30.00 and set an “in-line” rating for the company in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bath & Body Works has a consensus rating of “Hold” and a consensus price target of $41.14.

Read Our Latest Analysis on Bath & Body Works

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $44.74 on Friday. The stock has a market cap of $10.11 billion, a P/E ratio of 14.03, a P/E/G ratio of 2.29 and a beta of 1.85. The firm has a fifty day moving average price of $42.18 and a 200 day moving average price of $36.64. Bath & Body Works, Inc. has a 1-year low of $27.30 and a 1-year high of $46.00.

Bath & Body Works (NYSE:BBWIGet Free Report) last released its earnings results on Thursday, November 16th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.35 by $0.13. Bath & Body Works had a net margin of 9.90% and a negative return on equity of 32.64%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business earned $0.40 EPS. The business’s revenue was down 2.6% on a year-over-year basis. Sell-side analysts expect that Bath & Body Works, Inc. will post 3.07 EPS for the current fiscal year.

Bath & Body Works Profile

(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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