First Horizon Advisors Inc. Decreases Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

First Horizon Advisors Inc. trimmed its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 35.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,344 shares of the company’s stock after selling 727 shares during the quarter. First Horizon Advisors Inc.’s holdings in Bath & Body Works were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Bath & Body Works by 0.3% during the third quarter. Vanguard Group Inc. now owns 25,689,543 shares of the company’s stock valued at $868,307,000 after purchasing an additional 67,920 shares during the period. Darsana Capital Partners LP bought a new position in shares of Bath & Body Works during the 3rd quarter worth $76,050,000. Charles Schwab Investment Management Inc. increased its holdings in Bath & Body Works by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,925,647 shares of the company’s stock worth $65,087,000 after acquiring an additional 27,627 shares during the last quarter. Alua Capital Management LP raised its stake in Bath & Body Works by 30.2% in the 3rd quarter. Alua Capital Management LP now owns 1,693,200 shares of the company’s stock valued at $57,230,000 after acquiring an additional 392,800 shares during the period. Finally, Earnest Partners LLC boosted its position in Bath & Body Works by 1,055,015.7% during the third quarter. Earnest Partners LLC now owns 1,276,690 shares of the company’s stock worth $43,152,000 after purchasing an additional 1,276,569 shares during the period. 95.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total transaction of $209,493.65. Following the transaction, the insider now directly owns 45,992 shares in the company, valued at $2,248,548.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Wells Fargo & Company increased their target price on Bath & Body Works from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group lifted their price target on Bath & Body Works from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Telsey Advisory Group restated an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a research note on Friday, April 5th. Finally, Robert W. Baird upped their price target on Bath & Body Works from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.73.

Bath & Body Works Price Performance

BBWI stock opened at $47.22 on Wednesday. The firm has a 50 day simple moving average of $46.09 and a two-hundred day simple moving average of $41.27. The stock has a market cap of $10.62 billion, a PE ratio of 12.26, a P/E/G ratio of 1.49 and a beta of 1.89. Bath & Body Works, Inc. has a one year low of $27.30 and a one year high of $50.34.

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

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.69%. Bath & Body Works’s dividend payout ratio is 20.78%.

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.