National Bank of Canada FI Sells 51,126 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

National Bank of Canada FI trimmed its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 84.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,446 shares of the company's stock after selling 51,126 shares during the period. National Bank of Canada FI's holdings in Bath & Body Works were worth $302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Anomaly Capital Management LP acquired a new stake in Bath & Body Works during the second quarter worth approximately $113,995,000. FMR LLC lifted its holdings in Bath & Body Works by 17,496.5% during the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company's stock worth $80,315,000 after purchasing an additional 2,501,828 shares during the last quarter. KBC Group NV boosted its stake in Bath & Body Works by 9,023.5% in the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company's stock valued at $54,322,000 after purchasing an additional 1,683,160 shares during the period. Erste Asset Management GmbH acquired a new position in Bath & Body Works in the 3rd quarter valued at $50,483,000. Finally, Lone Pine Capital LLC grew its holdings in Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company's stock valued at $441,871,000 after buying an additional 1,547,399 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Bath & Body Works from $38.00 to $42.00 and gave the company an "equal weight" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. BMO Capital Markets reaffirmed an "outperform" rating and set a $50.00 target price (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Morgan Stanley dropped their price target on shares of Bath & Body Works from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, November 21st. Finally, Piper Sandler increased their price target on Bath & Body Works from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. One equities 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $42.50.

Bath & Body Works Stock Up 1.1 %

Shares of BBWI stock traded up $0.42 on Monday, reaching $38.64. The company had a trading volume of 4,863,334 shares, compared to its average volume of 4,020,750. The business's 50-day moving average is $32.76 and its 200 day moving average is $34.50. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The stock has a market capitalization of $8.37 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.44 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm's revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, sell-side analysts forecast that Bath & Body Works, Inc. will post 3.26 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.20 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.07%. Bath & Body Works's payout ratio is presently 19.51%.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the business's stock in a transaction dated Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company's stock.

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.