Van ECK Associates Corp Sells 30,833 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Van ECK Associates Corp cut its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 35.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,003 shares of the company’s stock after selling 30,833 shares during the period. Van ECK Associates Corp’s holdings in Bath & Body Works were worth $2,460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BBWI. Darsana Capital Partners LP bought a new position in shares of Bath & Body Works in the third quarter valued at approximately $76,050,000. Earnest Partners LLC grew its holdings 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 period. Newport Trust Company LLC bought a new position in Bath & Body Works during the third quarter valued at $24,721,000. Victory Capital Management Inc. grew its holdings in Bath & Body Works by 339.0% during the third quarter. Victory Capital Management Inc. now owns 638,806 shares of the company’s stock valued at $21,592,000 after purchasing an additional 493,297 shares during the period. Finally, Sound Shore Management Inc CT bought a new position in Bath & Body Works during the third quarter valued at $13,424,000. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Stock Down 0.3 %

NYSE BBWI opened at $47.22 on Wednesday. The stock’s 50-day simple moving average is $46.09 and its two-hundred day simple moving average is $41.27. Bath & Body Works, Inc. has a twelve month low of $27.30 and a twelve month high of $50.34. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.49 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Thursday, February 29th. The company reported $2.06 earnings per share 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 business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.69%. Bath & Body Works’s dividend payout ratio (DPR) is currently 20.78%.

Analyst Ratings Changes

BBWI has been the subject of several research reports. Wells Fargo & Company increased their price objective on Bath & Body Works from $42.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. BMO Capital Markets increased their price objective 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 reissued an “outperform” rating and set a $53.00 price objective on shares of Bath & Body Works in a report on Friday, April 5th. Robert W. Baird increased their price objective on Bath & Body Works from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, UBS Group increased their target price on Bath & Body Works from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.73.

Insider Activity

In related news, insider Thomas E. Mazurek sold 4,285 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total value of $209,493.65. Following the sale, the insider now directly owns 45,992 shares of the company’s stock, valued at $2,248,548.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Bath & Body Works 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.