Bronte Capital Management Pty Ltd. Sells 1,102 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Bronte Capital Management Pty Ltd. lessened its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 189,515 shares of the company’s stock after selling 1,102 shares during the quarter. Bath & Body Works makes up approximately 0.8% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 21st largest holding. Bronte Capital Management Pty Ltd. owned approximately 0.08% of Bath & Body Works worth $8,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBWI. Commonwealth Equity Services LLC increased its holdings in Bath & Body Works by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 11,044 shares of the company’s stock worth $373,000 after purchasing an additional 348 shares in the last quarter. Xponance Inc. raised its holdings in shares of Bath & Body Works by 5.5% during the third quarter. Xponance Inc. now owns 33,908 shares of the company’s stock valued at $1,146,000 after purchasing an additional 1,780 shares during the period. Raymond James & Associates grew its stake in shares of Bath & Body Works by 1,063.4% in the 3rd quarter. Raymond James & Associates now owns 103,099 shares of the company’s stock valued at $3,485,000 after buying an additional 94,237 shares during the period. Forsta AP Fonden increased its position in Bath & Body Works by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 63,300 shares of the company’s stock valued at $2,140,000 after buying an additional 7,500 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Bath & Body Works by 3.6% during the third quarter. New York State Teachers Retirement System now owns 241,567 shares of the company’s stock worth $8,165,000 after purchasing an additional 8,362 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Stock Up 2.0 %

Shares of Bath & Body Works stock traded up $0.94 during trading on Thursday, reaching $48.56. The company’s stock had a trading volume of 2,041,390 shares, compared to its average volume of 2,727,121. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.49 and a beta of 1.89. The firm’s 50-day moving average is $46.07 and its two-hundred day moving average is $41.43. Bath & Body Works, Inc. has a 52-week low of $27.30 and a 52-week high of $50.34.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.21. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. Bath & Body Works’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 annualized dividend and a yield of 1.65%. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.78%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BBWI. Piper Sandler raised their price target on shares of Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. TD Cowen raised their price objective on Bath & Body Works from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Robert W. Baird increased their target price on shares of Bath & Body Works from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 target price on shares of Bath & Body Works in a report on Friday, April 5th. Finally, Wells Fargo & Company raised their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.73.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total value of $209,493.65. Following the completion of the transaction, the insider now directly owns 45,992 shares in the company, valued at $2,248,548.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.