M&T Bank Corp Trims Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

M&T Bank Corp decreased its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 42.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 10,131 shares of the company’s stock after selling 7,557 shares during the period. M&T Bank Corp’s holdings in Bath & Body Works were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BBWI. Golden State Wealth Management LLC increased its stake in shares of Bath & Body Works by 94.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,320 shares of the company’s stock worth $40,000 after purchasing an additional 642 shares in the last quarter. UMB Bank n.a. lifted its stake in Bath & Body Works by 65.9% in the first quarter. UMB Bank n.a. now owns 1,501 shares of the company’s stock worth $46,000 after purchasing an additional 596 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Bath & Body Works by 109.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,629 shares of the company’s stock worth $63,000 after acquiring an additional 852 shares during the period. Ancora Advisors LLC purchased a new position in Bath & Body Works during the fourth quarter valued at approximately $67,000. Finally, TD Private Client Wealth LLC increased its holdings in Bath & Body Works by 34.9% during the fourth quarter. TD Private Client Wealth LLC now owns 2,290 shares of the company’s stock valued at $89,000 after buying an additional 593 shares during the period. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Trading Up 3.1%

NYSE:BBWI opened at $31.74 on Friday. Bath & Body Works, Inc. has a twelve month low of $24.94 and a twelve month high of $41.87. The company has a 50-day moving average of $30.15 and a 200-day moving average of $32.35. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.72.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.42 billion. Bath & Body Works had a net margin of 11.10% and a negative return on equity of 47.44%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, research analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, June 6th. Bath & Body Works’s payout ratio is 21.33%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $38.00 price objective (down from $43.00) on shares of Bath & Body Works in a research note on Thursday, May 29th. Citigroup boosted their target price on shares of Bath & Body Works from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on Bath & Body Works from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. Morgan Stanley lowered their price objective on shares of Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of Bath & Body Works from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

About Bath & Body Works

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.