Victory Capital Management Inc. Reduces Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Victory Capital Management Inc. decreased its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 11.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,619 shares of the company’s stock after selling 4,834 shares during the quarter. Victory Capital Management Inc.’s holdings in Bath & Body Works were worth $1,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. First Community Trust NA purchased a new stake in Bath & Body Works during the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after buying an additional 900 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Bath & Body Works by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after buying an additional 730 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Bath & Body Works in the 3rd quarter worth about $103,000. Finally, Blue Trust Inc. grew its stake in Bath & Body Works by 23.4% in the 2nd quarter. Blue Trust Inc. now owns 2,767 shares of the company’s stock valued at $108,000 after acquiring an additional 524 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Buying and Selling at Bath & Body Works

In related news, CEO Gina Boswell acquired 6,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Bath & Body Works Stock Down 1.5 %

BBWI stock opened at $35.23 on Wednesday. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 0.98 and a beta of 1.79. The business has a fifty day simple moving average of $30.69 and a 200-day simple moving average of $35.74.

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

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.20 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.27%. Bath & Body Works’s payout ratio is 19.37%.

Analysts Set New Price Targets

BBWI has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday. Piper Sandler increased their target price on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on Bath & Body Works from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday. Morgan Stanley reduced their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Finally, Robert W. Baird lowered their price target on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Bath & Body Works currently has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Profile

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.