Pictet Asset Management Holding SA Has $1.26 Million Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Pictet Asset Management Holding SA trimmed its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 75.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,504 shares of the company's stock after selling 98,389 shares during the period. Pictet Asset Management Holding SA's holdings in Bath & Body Works were worth $1,260,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BBWI. SRS Capital Advisors Inc. raised its position in Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock worth $26,000 after purchasing an additional 329 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Bath & Body Works in the fourth quarter worth about $26,000. UMB Bank n.a. raised 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 purchasing an additional 335 shares in the last quarter. Lindbrook Capital LLC raised its position in 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 purchasing an additional 431 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Bath & Body Works by 135.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock worth $39,000 after purchasing an additional 582 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Stock Down 6.7 %

BBWI stock traded down $2.00 during midday trading on Thursday, reaching $28.01. The company's stock had a trading volume of 1,095,365 shares, compared to its average volume of 4,614,135. The business's 50-day simple moving average is $33.44 and its 200-day simple moving average is $34.03. The stock has a market cap of $6.00 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a 52 week low of $24.96 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.05. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, equities analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works announced that its Board of Directors has authorized a share buyback program on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BBWI shares. Barclays dropped their price target on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. Robert W. Baird increased their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Citigroup dropped their price objective on shares of Bath & Body Works from $48.00 to $36.00 and set a "buy" rating for the company in a report on Monday. Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Piper Sandler raised shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $38.00 to $35.00 in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.06.

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.