Creative Planning Decreases Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Creative Planning lowered its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 9.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 15,139 shares of the company’s stock after selling 1,509 shares during the period. Creative Planning’s holdings in Bath & Body Works were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BBWI. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Bath & Body Works by 28.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock worth $12,936,000 after purchasing an additional 56,764 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Bath & Body Works by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock worth $6,572,000 after purchasing an additional 41,995 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after purchasing an additional 1,102,124 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Bath & Body Works by 968.1% during the first quarter. SG Americas Securities LLC now owns 190,758 shares of the company’s stock worth $9,542,000 after purchasing an additional 172,898 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Bath & Body Works by 576.9% during the first quarter. UniSuper Management Pty Ltd now owns 22,799 shares of the company’s stock worth $1,140,000 after purchasing an additional 19,431 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Up 0.3 %

Shares of NYSE BBWI opened at $31.73 on Thursday. The company’s 50-day simple moving average is $30.02 and its 200-day simple moving average is $37.16. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.99 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. Equities research analysts anticipate that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is currently 19.37%.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of Bath & Body Works stock in a transaction on Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays reduced their target price on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Robert W. Baird dropped their price target on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Citigroup dropped their price target on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Finally, Raymond James dropped their price target on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.63.

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.