Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by KBC Group NV

KBC Group NV reduced its position in Bath & Body Works, Inc. (NYSE:BBWI) by 89.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 121,175 shares of the company’s stock after selling 1,056,619 shares during the period. KBC Group NV’s holdings in Bath & Body Works were worth $3,674,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. raised its holdings in shares of Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after buying an additional 329 shares during the last quarter. Northwest Bank & Trust Co increased its position in Bath & Body Works by 2.9% in the 4th quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company’s stock valued at $533,000 after acquiring an additional 419 shares during the period. Lindbrook Capital LLC raised its stake in Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after acquiring an additional 431 shares during the last quarter. Nicolet Bankshares Inc. lifted its position in Bath & Body Works by 2.8% during the 4th quarter. Nicolet Bankshares Inc. now owns 17,232 shares of the company’s stock worth $668,000 after acquiring an additional 463 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Bath & Body Works by 15.5% in the 1st quarter. Blue Trust Inc. now owns 4,184 shares of the company’s stock valued at $127,000 after purchasing an additional 560 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BBWI shares. The Goldman Sachs Group cut their price target on Bath & Body Works from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Telsey Advisory Group restated an “outperform” rating and set a $38.00 price objective (down previously from $43.00) on shares of Bath & Body Works in a research report on Thursday, May 29th. Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Citigroup boosted their price target on shares of Bath & Body Works from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company increased their price target on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Bath & Body Works Price Performance

BBWI opened at $32.78 on Thursday. Bath & Body Works, Inc. has a 1-year low of $24.94 and a 1-year high of $41.87. The stock has a market cap of $6.94 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.08 and a beta of 1.72. The stock’s 50 day simple moving average is $29.70 and its 200 day simple moving average is $32.82.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.42 billion. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%. Bath & Body Works’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. Research analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, June 6th. This represents a $0.80 annualized dividend and a yield of 2.44%. Bath & Body Works’s dividend payout ratio (DPR) is currently 21.33%.

Bath & Body Works 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.