New York State Common Retirement Fund Sells 13,915 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

New York State Common Retirement Fund trimmed its position in Bath & Body Works, Inc. (NYSE:BBWI) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 575,771 shares of the company’s stock after selling 13,915 shares during the period. New York State Common Retirement Fund owned about 0.25% of Bath & Body Works worth $24,850,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BBWI. Darsana Capital Partners LP bought a new stake in Bath & Body Works in the 3rd quarter worth about $76,050,000. Earnest Partners LLC grew its position in Bath & Body Works by 1,055,015.7% in the 3rd 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 in the last quarter. Newport Trust Company LLC bought a new stake in Bath & Body Works in the 3rd quarter worth about $24,721,000. Victory Capital Management Inc. grew its position in shares of Bath & Body Works by 339.0% during the 3rd quarter. Victory Capital Management Inc. now owns 638,806 shares of the company’s stock valued at $21,592,000 after acquiring an additional 493,297 shares during the period. Finally, Sound Shore Management Inc CT bought a new position in shares of Bath & Body Works during the 3rd quarter valued at approximately $13,424,000. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Price Performance

NYSE BBWI opened at $46.03 on Friday. Bath & Body Works, Inc. has a 1 year low of $27.30 and a 1 year high of $50.34. The stock has a market capitalization of $10.35 billion, a PE ratio of 11.96, a P/E/G ratio of 1.48 and a beta of 1.86. The company’s 50 day simple moving average is $46.22 and its two-hundred day simple moving average is $40.54.

Bath & Body Works (NYSE:BBWI) last posted 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 business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the company posted $1.86 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, February 22nd. Bath & Body Works’s dividend payout ratio is presently 20.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BBWI. Piper Sandler increased their target price 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 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. Evercore ISI increased their target price 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. BMO Capital Markets increased their target price 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. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $53.00 target price on shares of Bath & Body Works in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.73.

Insider Activity

In other news, insider Thomas E. Mazurek sold 4,285 shares of the firm’s stock in a transaction 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 sale, the insider now owns 45,992 shares in the company, valued at approximately $2,248,548.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Bath & Body Works Company Profile

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.