PNC Financial Services Group Inc. Sells 4,269 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

PNC Financial Services Group Inc. trimmed its position in Bath & Body Works, Inc. (NYSE:BBWI) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,798 shares of the company’s stock after selling 4,269 shares during the period. PNC Financial Services Group Inc.’s holdings in Bath & Body Works were worth $2,675,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Bath & Body Works by 1.4% during the 1st quarter. California State Teachers Retirement System now owns 345,749 shares of the company’s stock valued at $17,294,000 after acquiring an additional 4,695 shares during the last quarter. Tidal Investments LLC raised its stake in Bath & Body Works by 223.9% in the first quarter. Tidal Investments LLC now owns 19,398 shares of the company’s stock valued at $970,000 after purchasing an additional 13,410 shares in the last quarter. Atria Investments Inc bought a new stake in Bath & Body Works during the first quarter valued at approximately $1,058,000. Northwest Bank & Trust Co grew its stake in Bath & Body Works by 2.5% in the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after buying an additional 315 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Bath & Body Works by 1.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after buying an additional 322 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Gina Boswell purchased 6,000 shares of Bath & Body Works stock in a transaction dated Wednesday, October 9th. The stock was purchased at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

BBWI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Robert W. Baird lowered their price objective on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. UBS Group cut their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Citigroup lowered their price target on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Finally, Barclays cut shares of Bath & Body Works from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $31.00 to $28.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.25.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $35.78 on Tuesday. The firm has a market capitalization of $7.84 billion, a P/E ratio of 8.66, a P/E/G ratio of 0.98 and a beta of 1.79. The stock has a 50 day moving average price of $30.69 and a 200-day moving average price of $35.74. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (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 business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, equities analysts forecast that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s payout ratio is currently 19.37%.

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.