Ontario Teachers Pension Plan Board Reduces Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Ontario Teachers Pension Plan Board decreased its position in Bath & Body Works, Inc. (NYSE:BBWI) by 75.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,627 shares of the company’s stock after selling 26,052 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Bath & Body Works were worth $372,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BBWI. Front Row Advisors LLC purchased a new position in shares of Bath & Body Works during the 3rd quarter worth approximately $25,000. Trust Co. of Vermont purchased a new position in shares of Bath & Body Works during the 3rd quarter worth approximately $27,000. Denali Advisors LLC purchased a new position in shares of Bath & Body Works during the 4th quarter worth approximately $27,000. GAMMA Investing LLC purchased a new position in shares of Bath & Body Works during the 4th quarter worth approximately $27,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Bath & Body Works during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $48.28 on Monday. The company’s fifty day moving average price is $46.95 and its 200 day moving average price is $43.11. Bath & Body Works, Inc. has a 12 month low of $27.30 and a 12 month high of $50.82. The firm has a market capitalization of $10.80 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.55 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 29th. The company reported $2.06 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 firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the business earned $1.86 EPS. Bath & Body Works’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.33 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.66%. Bath & Body Works’s dividend payout ratio is presently 20.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BBWI shares. The Goldman Sachs Group raised their price target on shares of Bath & Body Works from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Piper Sandler raised 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. Evercore ISI raised their price target on shares of Bath & Body Works from $30.00 to $45.00 and gave the company an “in-line” rating in a research report on Friday, March 1st. Wells Fargo & Company raised their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Finally, BMO Capital Markets raised their price target on shares of Bath & Body Works from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.57.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of Bath & Body Works stock in a transaction on 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 in the company, valued at $2,248,548.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

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.