Mitsubishi UFJ Trust & Banking Corp Sells 392,291 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 78.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,774 shares of the company's stock after selling 392,291 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Bath & Body Works were worth $4,101,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Bath & Body Works during the 4th quarter worth $26,000. SRS Capital Advisors Inc. lifted its position in Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after purchasing an additional 329 shares in the last quarter. True Wealth Design LLC lifted its position in Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $34,000 after purchasing an additional 1,054 shares in the last quarter. UMB Bank n.a. increased its position in Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after buying an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after buying an additional 431 shares during the period. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BBWI. JPMorgan Chase & Co. set a $47.00 price objective on Bath & Body Works in a research note on Thursday, February 27th. Argus reissued a "hold" rating on shares of Bath & Body Works in a research note on Friday, January 10th. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and lifted their target price for the company from $40.00 to $48.00 in a research note on Friday, February 28th. Telsey Advisory Group reiterated an "outperform" rating and issued a $43.00 price target on shares of Bath & Body Works in a research note on Thursday, February 27th. Finally, TD Cowen boosted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.06.

Remove Ads

Bath & Body Works Stock Performance

NYSE:BBWI traded down $0.74 during trading hours on Friday, reaching $27.11. The stock had a trading volume of 9,960,931 shares, compared to its average volume of 4,570,199. The stock has a market capitalization of $5.81 billion, a PE ratio of 6.61, a PEG ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a 52 week low of $25.41 and a 52 week high of $52.99. The company has a 50 day moving average price of $34.45 and a two-hundred day moving average price of $34.13.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.78 billion. Equities research analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

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

Bath & Body Works Announces Dividend

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

Bath & Body Works 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.