Bath & Body Works, Inc. (NYSE:BBWI) Shares Purchased by abrdn plc

abrdn plc boosted its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 70.5% during the 4th quarter, HoldingsChannel reports. The fund owned 96,346 shares of the company’s stock after buying an additional 39,846 shares during the period. abrdn plc’s holdings in Bath & Body Works were worth $4,158,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Bath & Body Works by 0.3% in the third quarter. Vanguard Group Inc. now owns 25,689,543 shares of the company’s stock valued at $868,307,000 after acquiring an additional 67,920 shares in the last quarter. Darsana Capital Partners LP bought a new stake in Bath & Body Works during the third quarter valued at $76,050,000. Charles Schwab Investment Management Inc. increased its stake in Bath & Body Works by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,925,647 shares of the company’s stock valued at $65,087,000 after purchasing an additional 27,627 shares during the last quarter. Alua Capital Management LP increased its stake in Bath & Body Works by 30.2% during the third quarter. Alua Capital Management LP now owns 1,693,200 shares of the company’s stock valued at $57,230,000 after purchasing an additional 392,800 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in Bath & Body Works by 1,055,015.7% during the third quarter. Earnest Partners LLC now owns 1,276,690 shares of the company’s stock valued at $43,152,000 after purchasing an additional 1,276,569 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total value of $209,493.65. Following the completion of the sale, the insider now directly owns 45,992 shares of the company’s stock, valued at approximately $2,248,548.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Bath & Body Works Stock Up 1.0 %

Shares of BBWI opened at $46.04 on Friday. The firm has a 50-day moving average price of $46.22 and a 200 day moving average price of $40.60. The firm has a market capitalization of $10.35 billion, a PE ratio of 11.96, a P/E/G ratio of 1.48 and a beta of 1.86. Bath & Body Works, Inc. has a 52-week low of $27.30 and a 52-week high of $50.34.

Bath & Body Works (NYSE:BBWI) last announced its earnings results 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. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. Bath & Body Works’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 EPS. On average, equities analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, February 22nd. Bath & Body Works’s payout ratio is 20.78%.

Wall Street Analyst Weigh In

BBWI has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Wells Fargo & Company upped their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets upped 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 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 research report on Friday, April 5th. Finally, TD Cowen upped their price target on shares of Bath & Body Works from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.73.

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.