Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lessened its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,395 shares of the company’s stock after selling 1,920 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Bath & Body Works were worth $3,737,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bath & Body Works by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company’s stock worth $2,046,000 after buying an additional 12,964 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company’s stock worth $66,088,000 after acquiring an additional 195,813 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Bath & Body Works in the fourth quarter worth about $1,350,000. Alliancebernstein L.P. boosted its stake in Bath & Body Works by 35.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock valued at $200,768,000 after acquiring an additional 1,360,264 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Bath & Body Works by 50.8% during the 3rd quarter. Franklin Resources Inc. now owns 265,221 shares of the company’s stock worth $8,230,000 after purchasing an additional 89,350 shares during the period. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

BBWI stock opened at $27.66 on Wednesday. The firm has a market cap of $5.92 billion, a PE ratio of 6.75, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a 12 month low of $24.96 and a 12 month high of $52.99. The firm has a 50 day simple moving average of $32.60 and a 200 day simple moving average of $33.93.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. As a group, sell-side analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its board has authorized a stock repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a dividend of $0.20 per share. The ex-dividend date was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.89%. Bath & Body Works’s payout ratio is presently 21.98%.

Analyst Ratings Changes

A number of research analysts recently commented on BBWI shares. Barclays lowered their price objective on Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Robert W. Baird increased their price objective on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on shares of Bath & Body Works from $47.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James restated an “outperform” rating and issued a $46.00 price target (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.69.

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.