Mitsubishi UFJ Asset Management Co. Ltd. Trims Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Mitsubishi UFJ Asset Management Co. Ltd. lessened its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 71.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,259 shares of the company's stock after selling 134,587 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Bath & Body Works were worth $2,046,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FMR LLC increased its stake in Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company's stock valued at $80,315,000 after acquiring an additional 2,501,828 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Bath & Body Works by 328.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company's stock valued at $34,153,000 after purchasing an additional 820,379 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Bath & Body Works during the 4th quarter worth approximately $26,491,000. Janus Henderson Group PLC lifted its stake in Bath & Body Works by 99.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,121,520 shares of the company's stock valued at $35,799,000 after purchasing an additional 559,851 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in Bath & Body Works by 4,494.7% in the fourth quarter. Jupiter Asset Management Ltd. now owns 548,237 shares of the company's stock valued at $21,255,000 after buying an additional 536,305 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock traded down $0.74 on Friday, hitting $27.11. The company had a trading volume of 9,960,931 shares, compared to its average volume of 4,570,199. Bath & Body Works, Inc. has a 1 year low of $25.41 and a 1 year high of $52.99. The stock has a 50 day moving average of $34.45 and a 200-day moving average of $34.16. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 6.61, a P/E/G ratio of 0.92 and a beta of 1.69.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results 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. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a dividend of $0.20 per share. The ex-dividend date was Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. Bath & Body Works's payout ratio is currently 21.98%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BBWI shares. Cowen restated a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Argus reiterated a "hold" rating on shares of Bath & Body Works in a research report on Friday, January 10th. Telsey Advisory Group restated an "outperform" rating and issued a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $40.00 to $48.00 in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. set a $47.00 price objective on Bath & Body Works in a report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Bath & Body Works currently has an average rating of "Moderate Buy" and a consensus target price of $45.06.

About Bath & Body Works

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.