Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 11.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 224,895 shares of the company's stock after selling 29,778 shares during the period. Wellington Management Group LLP owned 0.10% of Bath & Body Works worth $8,719,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Bath & Body Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock valued at $1,093,306,000 after buying an additional 208,036 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bath & Body Works by 79.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock worth $150,507,000 after buying an additional 1,715,096 shares during the period. Norges Bank purchased a new position in shares of Bath & Body Works during the fourth quarter worth about $73,572,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock valued at $66,088,000 after purchasing an additional 195,813 shares during the period. Finally, Erste Asset Management GmbH raised its stake in shares of Bath & Body Works by 0.3% during the fourth quarter. Erste Asset Management GmbH now owns 1,585,460 shares of the company's stock worth $61,546,000 after purchasing an additional 5,035 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on BBWI shares. Telsey Advisory Group reissued an "outperform" rating and issued a $43.00 price objective on shares of Bath & Body Works in a research note on Thursday, February 27th. Argus reaffirmed a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Raymond James reissued an "outperform" rating and issued a $46.00 target price (up previously from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. Piper Sandler raised shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $38.00 to $35.00 in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $42.00 to $48.00 in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.69.

Bath & Body Works Stock Performance

Bath & Body Works stock traded down $0.94 during midday trading on Tuesday, reaching $27.71. 1,057,690 shares of the company were exchanged, compared to its average volume of 4,684,972. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $52.99. The firm's 50-day simple moving average is $32.79 and its 200-day simple moving average is $33.97. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 0.92 and a beta of 1.69.

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

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

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's dividend payout ratio is currently 21.98%.

Bath & Body Works 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.