Hsbc Holdings PLC Lowers Position in Bath & Body Works, Inc. (NYSE:BBWI)

Hsbc Holdings PLC trimmed its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 83.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 285,257 shares of the company's stock after selling 1,397,182 shares during the period. Hsbc Holdings PLC owned 0.13% of Bath & Body Works worth $11,077,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Bath & Body Works by 32.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock valued at $2,046,000 after purchasing an additional 12,964 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Bath & Body Works by 5.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock valued at $3,428,000 after buying an additional 4,625 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Bath & Body Works by 13.0% in the 4th 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 purchased a new stake in shares of Bath & Body Works during the 4th quarter worth approximately $1,350,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock worth $200,768,000 after acquiring an additional 1,360,264 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BBWI has been the topic of several research reports. The Goldman Sachs Group reduced their price target on shares of Bath & Body Works from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Citigroup decreased their target price on shares of Bath & Body Works from $48.00 to $36.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Cowen reiterated a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Argus reaffirmed a "hold" rating on shares of Bath & Body Works in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Bath & Body Works presently has an average rating of "Moderate Buy" and an average target price of $42.69.

Bath & Body Works Trading Down 0.5 %

Shares of BBWI stock opened at $29.61 on Monday. Bath & Body Works, Inc. has a twelve month low of $24.96 and a twelve month high of $52.99. The stock has a fifty day simple moving average of $31.33 and a two-hundred day simple moving average of $33.86. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 7.22, a P/E/G ratio of 0.92 and a beta of 1.69.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Research analysts predict 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, March 7th. Shareholders of record on Friday, February 21st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. Bath & Body Works's dividend payout ratio is currently 21.98%.

Bath & Body Works declared that its board has approved a stock buyback program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Bath & Body Works Company Profile

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.

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