Primecap Management Co. CA Has $173 Million Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Primecap Management Co. CA reduced its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,419,675 shares of the company's stock after selling 117,180 shares during the period. Primecap Management Co. CA owned approximately 2.47% of Bath & Body Works worth $172,996,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lone Pine Capital LLC grew its stake in shares of Bath & Body Works by 15.8% during the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company's stock worth $441,871,000 after acquiring an additional 1,547,399 shares in the last quarter. Anomaly Capital Management LP bought a new position in shares of Bath & Body Works during the 2nd quarter worth approximately $113,995,000. Sound Shore Management Inc. CT grew its stake in shares of Bath & Body Works by 10.0% during the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company's stock worth $81,564,000 after acquiring an additional 189,889 shares in the last quarter. KBC Group NV grew its stake in shares of Bath & Body Works by 9,023.5% during the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company's stock worth $54,322,000 after acquiring an additional 1,683,160 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bath & Body Works by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,303,487 shares of the company's stock valued at $50,901,000 after buying an additional 86,204 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Price Performance

Shares of BBWI stock opened at $30.52 on Thursday. The business's 50 day simple moving average is $30.41 and its 200 day simple moving average is $36.14. 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 $6.69 billion, a PE ratio of 7.39, a PEG ratio of 0.97 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts expect that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, November 22nd. Bath & Body Works's dividend payout ratio (DPR) is presently 19.37%.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares of the company's stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BBWI shares. Telsey Advisory Group reissued an "outperform" rating and issued a $42.00 target price on shares of Bath & Body Works in a research note on Monday. Morgan Stanley decreased their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, September 5th. Robert W. Baird decreased their target price on shares of Bath & Body Works from $54.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, August 29th. UBS Group reduced their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Finally, Bank of America reduced their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.44.

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.

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