Allspring Global Investments Holdings LLC Sells 6,092 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Allspring Global Investments Holdings LLC decreased its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 33.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,284 shares of the company’s stock after selling 6,092 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bath & Body Works were worth $530,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BBWI. CWM LLC raised its holdings in Bath & Body Works by 20.4% during the 3rd quarter. CWM LLC now owns 4,814 shares of the company’s stock worth $163,000 after purchasing an additional 816 shares during the last quarter. Czech National Bank raised its holdings in Bath & Body Works by 47.5% during the 3rd quarter. Czech National Bank now owns 40,009 shares of the company’s stock worth $1,352,000 after purchasing an additional 12,892 shares during the last quarter. Trinity Street Asset Management LLP raised its holdings in Bath & Body Works by 2.9% during the 3rd quarter. Trinity Street Asset Management LLP now owns 249,246 shares of the company’s stock worth $8,425,000 after purchasing an additional 6,976 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Bath & Body Works by 3.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,044 shares of the company’s stock worth $373,000 after purchasing an additional 348 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Bath & Body Works by 75.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 684,544 shares of the company’s stock worth $23,138,000 after purchasing an additional 293,497 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

NYSE BBWI opened at $45.60 on Friday. The company has a market cap of $10.26 billion, a P/E ratio of 11.84, a PEG ratio of 1.46 and a beta of 1.86. The company has a fifty day simple moving average of $46.21 and a 200 day simple moving average of $40.43. Bath & Body Works, Inc. has a 12-month low of $27.30 and a 12-month high of $50.34.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.21. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. Sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Thursday, February 22nd. Bath & Body Works’s dividend payout ratio is 20.78%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BBWI. UBS Group lifted their price objective on shares of Bath & Body Works from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price objective on shares of Bath & Body Works in a research note on Friday, April 5th. The Goldman Sachs Group lifted their price objective on shares of Bath & Body Works from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Robert W. Baird lifted their price objective on shares of Bath & Body Works from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Evercore ISI lifted their price objective on shares of Bath & Body Works from $30.00 to $45.00 and gave the company an “in-line” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.73.

Insiders Place Their Bets

In related news, insider Thomas E. Mazurek sold 4,285 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total value of $209,493.65. Following the transaction, the insider now directly owns 45,992 shares of the company’s stock, valued at approximately $2,248,548.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

About Bath & Body Works

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.