California Public Employees Retirement System Sells 26,964 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

California Public Employees Retirement System trimmed its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 6.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 422,336 shares of the company’s stock after selling 26,964 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Bath & Body Works worth $15,838,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBWI. Davidson Kempner Capital Management LP grew its position in shares of Bath & Body Works by 2,360.0% during the 1st quarter. Davidson Kempner Capital Management LP now owns 2,391,104 shares of the company’s stock worth $87,467,000 after buying an additional 2,293,904 shares during the period. Norges Bank acquired a new stake in shares of Bath & Body Works during the 4th quarter worth approximately $87,870,000. Renaissance Technologies LLC acquired a new stake in shares of Bath & Body Works during the 1st quarter worth approximately $84,383,000. Alliancebernstein L.P. grew its position in shares of Bath & Body Works by 507.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,964,651 shares of the company’s stock worth $82,790,000 after buying an additional 1,641,108 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Bath & Body Works by 49,255.9% during the 1st quarter. Bessemer Group Inc. now owns 1,485,120 shares of the company’s stock worth $54,325,000 after buying an additional 1,482,111 shares during the period. 94.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BBWI. Citigroup boosted their price objective on shares of Bath & Body Works from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. Raymond James cut their price target on shares of Bath & Body Works from $48.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, October 23rd. Evercore ISI cut their price target on shares of Bath & Body Works from $40.00 to $30.00 and set an “in-line” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered shares of Bath & Body Works from a “neutral” rating to an “underweight” rating and cut their price target for the company from $41.00 to $27.00 in a research note on Tuesday, October 24th. Finally, UBS Group lifted their price target on shares of Bath & Body Works from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works has an average rating of “Hold” and a consensus target price of $41.73.

Bath & Body Works Trading Down 2.5 %

Shares of BBWI opened at $29.36 on Monday. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 1.04 and a beta of 1.84. Bath & Body Works, Inc. has a 1-year low of $27.30 and a 1-year high of $49.55. The company’s fifty day simple moving average is $32.00 and its 200 day simple moving average is $35.24.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Thursday, November 16th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.35 by $0.13. Bath & Body Works had a net margin of 9.90% and a negative return on equity of 32.64%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, research analysts forecast that Bath & Body Works, Inc. will post 3.08 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a $0.20 dividend. The ex-dividend date is Thursday, November 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.72%. Bath & Body Works’s dividend payout ratio is currently 25.08%.

About Bath & Body Works

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.