State Street Corp Has $291.33 Million Stake in Bath & Body Works, Inc. (NYSE:BBWI)

State Street Corp trimmed its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 7.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,126,995 shares of the company's stock after selling 752,900 shares during the quarter. State Street Corp owned 4.17% of Bath & Body Works worth $291,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Anomaly Capital Management LP bought a new stake in Bath & Body Works in the 2nd quarter valued at $113,995,000. FMR LLC raised its position in shares of Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company's stock valued at $80,315,000 after buying an additional 2,501,828 shares during the last quarter. KBC Group NV lifted its stake in shares of Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company's stock valued at $54,322,000 after buying an additional 1,683,160 shares during the period. Erste Asset Management GmbH acquired a new stake in Bath & Body Works during the third quarter worth about $50,483,000. Finally, Lone Pine Capital LLC increased its stake in Bath & Body Works by 15.8% during the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company's stock valued at $441,871,000 after acquiring an additional 1,547,399 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Bath & Body Works Stock Performance

Shares of NYSE BBWI traded down $0.13 during trading on Wednesday, reaching $38.40. The company had a trading volume of 2,719,238 shares, compared to its average volume of 4,020,106. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The business's 50 day moving average price is $32.10 and its 200-day moving average price is $34.81. The stock has a market cap of $8.32 billion, a PE ratio of 9.40, a PEG ratio of 1.37 and a beta of 1.83.

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

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, November 22nd. Bath & Body Works's dividend payout ratio (DPR) is currently 19.51%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley reduced their price objective on 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. Bank of America decreased their price target on shares of Bath & Body Works from $54.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Barclays increased their price objective on shares of Bath & Body Works from $28.00 to $34.00 and gave the company an "underweight" rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped their target price on shares of Bath & Body Works from $32.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 26th. Finally, Piper Sandler raised their price target on shares of Bath & Body Works from $35.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Bath & Body Works currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.88.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the purchase, the chief executive officer now directly owns 242,987 shares of the company's stock, valued at $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Bath & Body Works Profile

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.