The Manufacturers Life Insurance Company Has $2.57 Million Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

The Manufacturers Life Insurance Company cut its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 54.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,609 shares of the company's stock after selling 96,984 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Bath & Body Works were worth $2,573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC raised its stake in Bath & Body Works by 6.6% during the 2nd quarter. CWM LLC now owns 5,072 shares of the company's stock valued at $198,000 after acquiring an additional 314 shares during the last quarter. Citizens & Northern Corp raised its stake in shares of Bath & Body Works by 1.7% during the 2nd quarter. Citizens & Northern Corp now owns 29,465 shares of the company's stock worth $1,151,000 after buying an additional 487 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Bath & Body Works by 23.4% during the 2nd quarter. Blue Trust Inc. now owns 2,767 shares of the company's stock worth $108,000 after buying an additional 524 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Bath & Body Works by 34.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,481 shares of the company's stock worth $79,000 after buying an additional 635 shares in the last quarter. Finally, Horizon Bancorp Inc. IN raised its stake in shares of Bath & Body Works by 19.6% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 4,232 shares of the company's stock worth $165,000 after buying an additional 695 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell purchased 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired 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 directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Bath & Body Works from $35.00 to $36.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $42.00 price objective on shares of Bath & Body Works in a research note on Monday, November 25th. Barclays raised their price objective on Bath & Body Works from $28.00 to $34.00 and gave the company an "underweight" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group dropped their price objective on Bath & Body Works from $60.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their target price on Bath & Body Works from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Bath & Body Works presently has an average rating of "Moderate Buy" and an average price target of $41.88.

Bath & Body Works Trading Up 7.1 %

Bath & Body Works stock traded up $2.60 on Monday, reaching $39.20. 6,569,643 shares of the stock were exchanged, compared to its average volume of 4,023,744. The stock has a market cap of $8.49 billion, a PE ratio of 8.93, a PEG ratio of 1.37 and a beta of 1.83. Bath & Body Works, Inc. has a twelve month low of $26.20 and a twelve month high of $52.99. The firm has a fifty day moving average price of $31.81 and a two-hundred day moving average price of $34.94.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.26 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, November 22nd. Bath & Body Works's payout ratio is presently 19.51%.

Bath & Body Works Company 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.