Putnam Investments LLC Trims Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Putnam Investments LLC lessened its position in Bath & Body Works, Inc. (NYSE:BBWI – Get Rating) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,946 shares of the company’s stock after selling 339 shares during the period. Putnam Investments LLC’s holdings in Bath & Body Works were worth $1,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BBWI. First Horizon Advisors Inc. lifted its stake in shares of Bath & Body Works by 151.4% in the third quarter. First Horizon Advisors Inc. now owns 1,149 shares of the company’s stock worth $36,000 after buying an additional 692 shares in the last quarter. CoreCap Advisors LLC bought a new position in Bath & Body Works during the second quarter valued at approximately $39,000. AlphaCentric Advisors LLC bought a new position in Bath & Body Works during the third quarter valued at approximately $56,000. Wipfli Financial Advisors LLC bought a new position in Bath & Body Works during the third quarter valued at approximately $66,000. Finally, Rockefeller Capital Management L.P. lifted its position in Bath & Body Works by 162.1% during the third quarter. Rockefeller Capital Management L.P. now owns 2,241 shares of the company’s stock valued at $73,000 after purchasing an additional 1,386 shares during the period. Institutional investors own 96.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BBWI. Bank of America increased their price objective on shares of Bath & Body Works from $48.00 to $50.00 in a research report on Thursday, November 17th. Credit Suisse Group increased their price target on shares of Bath & Body Works from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. Robert W. Baird increased their price target on shares of Bath & Body Works from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. JPMorgan Chase & Co. increased their price target on shares of Bath & Body Works from $40.00 to $43.00 in a research report on Tuesday, January 3rd. Finally, Piper Sandler increased their price target on shares of Bath & Body Works from $50.00 to $52.00 in a research report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.52.

Bath & Body Works Stock Down 1.8 %

Shares of NYSE:BBWI opened at $36.60 on Tuesday. Bath & Body Works, Inc. has a 52 week low of $25.75 and a 52 week high of $58.17. The stock has a market capitalization of $8.36 billion, a P/E ratio of 10.61, a PEG ratio of 1.01 and a beta of 1.77. The firm has a fifty day simple moving average of $43.71 and a two-hundred day simple moving average of $39.62.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Bath & Body Works’s payout ratio is currently 23.19%.

About Bath & Body Works

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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.