Allspring Global Investments Holdings LLC Sells 6,092 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Allspring Global Investments Holdings LLC decreased its position in Bath & Body Works, Inc. (NYSE:BBWI) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,284 shares of the company’s stock after selling 6,092 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bath & Body Works were worth $530,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BBWI. Front Row Advisors LLC bought a new position in Bath & Body Works in the third quarter worth $25,000. Trust Co. of Vermont bought a new position in Bath & Body Works in the third quarter worth $27,000. Denali Advisors LLC bought a new position in shares of Bath & Body Works during the fourth quarter valued at $27,000. Princeton Global Asset Management LLC bought a new position in shares of Bath & Body Works during the fourth quarter valued at $43,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Bath & Body Works during the fourth quarter valued at $44,000. Institutional investors own 95.14% of the company’s stock.

Insider Activity at Bath & Body Works

In related news, insider Thomas E. Mazurek sold 4,285 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total transaction of $209,493.65. Following the completion of the transaction, 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 SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Bath & Body Works from $42.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday. BMO Capital Markets raised their price target on Bath & Body Works from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Telsey Advisory Group restated an “outperform” rating and set a $53.00 price target on shares of Bath & Body Works in a report on Friday, April 5th. UBS Group raised their price target on Bath & Body Works from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, Evercore ISI lifted their price objective on Bath & Body Works from $30.00 to $45.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.73.

Bath & Body Works Price Performance

BBWI opened at $45.60 on Friday. The business has a fifty day moving average of $46.21 and a 200 day moving average of $40.43. Bath & Body Works, Inc. has a 52-week low of $27.30 and a 52-week high of $50.34. The stock has a market cap of $10.26 billion, a P/E ratio of 11.84, a PEG ratio of 1.46 and a beta of 1.86.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.21. Bath & Body Works had a negative return on equity of 37.01% and a net margin of 11.82%. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business earned $1.86 EPS. Bath & Body Works’s revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Thursday, February 22nd. Bath & Body Works’s payout ratio is currently 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.