Bath & Body Works, Inc. (NYSE:BBWI) Holdings Cut by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 128,342 shares of the company’s stock after selling 1,655 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Bath & Body Works were worth $5,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BBWI. Vanguard Group Inc. raised its holdings in shares of Bath & Body Works by 0.3% during the third quarter. Vanguard Group Inc. now owns 25,689,543 shares of the company’s stock valued at $868,307,000 after buying an additional 67,920 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Bath & Body Works by 1.0% during the first quarter. BlackRock Inc. now owns 17,074,153 shares of the company’s stock valued at $624,573,000 after buying an additional 174,915 shares during the last quarter. State Street Corp raised its holdings in shares of Bath & Body Works by 0.6% during the third quarter. State Street Corp now owns 10,038,767 shares of the company’s stock valued at $327,264,000 after buying an additional 58,201 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Bath & Body Works by 8.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,364,253 shares of the company’s stock valued at $171,326,000 after buying an additional 484,674 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Bath & Body Works by 2.3% during the first quarter. Geode Capital Management LLC now owns 4,725,145 shares of the company’s stock valued at $172,450,000 after buying an additional 106,263 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Evercore ISI raised their price objective on shares of Bath & Body Works from $30.00 to $45.00 and gave the company an “in-line” rating in a research note on Friday, March 1st. Piper Sandler raised their price objective 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. Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 price objective on shares of Bath & Body Works in a research note on Friday, April 5th. The Goldman Sachs Group raised their price objective on shares of Bath & Body Works from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, UBS Group raised their price objective on shares of Bath & Body Works from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.33.

Insiders Place Their Bets

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of Bath & Body Works stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total transaction of $209,493.65. Following the transaction, the insider now directly owns 45,992 shares in the company, valued at approximately $2,248,548.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Bath & Body Works Stock Performance

Bath & Body Works stock opened at $46.14 on Wednesday. Bath & Body Works, Inc. has a 1 year low of $27.30 and a 1 year high of $50.34. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.86. The firm’s 50 day moving average price is $46.01 and its two-hundred day moving average price is $39.53.

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

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.73%. The ex-dividend date was Thursday, February 22nd. Bath & Body Works’s payout ratio is 20.78%.

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.