OLD National Bancorp IN Raises Holdings in Bath & Body Works, Inc. $BBWI

OLD National Bancorp IN raised its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 438,795 shares of the company’s stock after acquiring an additional 67,222 shares during the period. OLD National Bancorp IN owned approximately 0.21% of Bath & Body Works worth $11,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Bath & Body Works in the second quarter valued at approximately $33,000. SVB Wealth LLC acquired a new stake in Bath & Body Works during the 1st quarter valued at $35,000. Geneos Wealth Management Inc. increased its stake in Bath & Body Works by 217.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock worth $35,000 after buying an additional 801 shares during the period. Parallel Advisors LLC lifted its holdings in Bath & Body Works by 63.3% in the 2nd quarter. Parallel Advisors LLC now owns 1,241 shares of the company’s stock worth $37,000 after buying an additional 481 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Bath & Body Works by 24.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,842 shares of the company’s stock valued at $55,000 after buying an additional 364 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bath & Body Works

In other news, Director Steven E. Voskuil purchased 20,000 shares of the stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $15.04 per share, for a total transaction of $300,800.00. Following the transaction, the director owned 33,925 shares in the company, valued at $510,232. This trade represents a 143.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lucy Brady bought 3,470 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average cost of $14.40 per share, with a total value of $49,968.00. Following the purchase, the director directly owned 17,482 shares of the company’s stock, valued at approximately $251,740.80. This represents a 24.76% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 33,513 shares of company stock valued at $500,442 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

BBWI has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on Bath & Body Works from $26.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Guggenheim initiated coverage on shares of Bath & Body Works in a report on Tuesday, December 9th. They set a “neutral” rating for the company. Wells Fargo & Company decreased their price target on Bath & Body Works from $33.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, November 21st. Zacks Research downgraded Bath & Body Works from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Finally, UBS Group dropped their price target on Bath & Body Works from $32.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bath & Body Works presently has a consensus rating of “Hold” and a consensus price target of $23.61.

Bath & Body Works Stock Down 2.5%

BBWI stock opened at $19.29 on Tuesday. The stock has a market cap of $3.95 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 0.73 and a beta of 1.51. The firm’s 50-day simple moving average is $21.58 and its 200 day simple moving average is $26.34. Bath & Body Works, Inc. has a fifty-two week low of $14.27 and a fifty-two week high of $41.87.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, November 20th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Bath & Body Works had a net margin of 9.50% and a negative return on equity of 47.35%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business posted $0.49 EPS. Bath & Body Works’s revenue for the quarter was down 1.0% compared to the same quarter last year. Bath & Body Works has set its FY 2025 guidance at 2.870- EPS and its Q4 2025 guidance at 1.700- EPS. Equities analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.80 annualized dividend and a yield of 4.1%. Bath & Body Works’s dividend payout ratio (DPR) is presently 24.62%.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.