Bath & Body Works, Inc. (NYSE:BBWI) Shares Bought by abrdn plc

abrdn plc boosted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 70.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,346 shares of the company’s stock after buying an additional 39,846 shares during the quarter. abrdn plc’s holdings in Bath & Body Works were worth $4,158,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BBWI. Darsana Capital Partners LP acquired a new stake in Bath & Body Works during the 3rd quarter worth approximately $76,050,000. Earnest Partners LLC lifted its holdings in Bath & Body Works by 1,055,015.7% during the 3rd quarter. Earnest Partners LLC now owns 1,276,690 shares of the company’s stock worth $43,152,000 after buying an additional 1,276,569 shares in the last quarter. Newport Trust Company LLC acquired a new stake in Bath & Body Works during the 3rd quarter worth approximately $24,721,000. Victory Capital Management Inc. lifted its holdings in Bath & Body Works by 339.0% during the 3rd quarter. Victory Capital Management Inc. now owns 638,806 shares of the company’s stock worth $21,592,000 after buying an additional 493,297 shares in the last quarter. Finally, Sound Shore Management Inc CT purchased a new stake in shares of Bath & Body Works in the 3rd quarter valued at approximately $13,424,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bath & Body Works

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 value of $209,493.65. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

BBWI has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price objective 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. Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 price objective on shares of Bath & Body Works in a research report on Friday, April 5th. Piper Sandler increased their price objective 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 price objective 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. Finally, The Goldman Sachs Group increased 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 report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.73.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $46.04 on Friday. Bath & Body Works, Inc. has a 1 year low of $27.30 and a 1 year high of $50.34. The company has a market capitalization of $10.35 billion, a P/E ratio of 11.96, a PEG ratio of 1.48 and a beta of 1.86. The company’s fifty day moving average is $46.22 and its two-hundred day moving average is $40.60.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm posted $1.86 EPS. Bath & Body Works’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

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

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.