Pictet Asset Management Holding SA Sells 98,389 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Pictet Asset Management Holding SA lessened its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 75.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 32,504 shares of the company’s stock after selling 98,389 shares during the period. Pictet Asset Management Holding SA’s holdings in Bath & Body Works were worth $1,260,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Bath & Body Works during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its stake in shares of Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after acquiring an additional 329 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after purchasing an additional 335 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Bath & Body Works during the third quarter worth $39,000. 95.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BBWI shares. Argus reiterated a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Piper Sandler upped their price target on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Telsey Advisory Group reissued an “outperform” rating and set a $43.00 target price on shares of Bath & Body Works in a report on Thursday, February 27th. Cowen reissued a “buy” rating on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Raymond James reissued an “outperform” rating and set a $46.00 target price (up previously from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.06.

Bath & Body Works Stock Down 2.6 %

Bath & Body Works stock opened at $27.11 on Friday. The stock has a market cap of $5.81 billion, a PE ratio of 6.61, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a 12-month low of $25.41 and a 12-month high of $52.99. The business’s 50-day moving average price is $34.45 and its two-hundred day moving average price is $34.13.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. As a group, 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 7th. Shareholders of record on Friday, February 21st were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.95%. Bath & Body Works’s dividend payout ratio is presently 21.98%.

Bath & Body Works declared that its board has initiated a stock buyback plan on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.