CIBC Asset Management Inc Sells 6,858 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

CIBC Asset Management Inc cut its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 32.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,220 shares of the company’s stock after selling 6,858 shares during the period. CIBC Asset Management Inc’s holdings in Bath & Body Works were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BBWI. FMR LLC raised its position in Bath & Body Works by 17,496.5% during the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after purchasing an additional 2,501,828 shares in the last quarter. KBC Group NV raised its position in 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 valued at $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Bath & Body Works during the 3rd quarter valued at $50,483,000. Senvest Management LLC bought a new stake in Bath & Body Works during the 3rd quarter valued at $30,537,000. Finally, Principal Financial Group Inc. raised its position in Bath & Body Works by 328.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after purchasing an additional 820,379 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Stock Performance

Bath & Body Works stock opened at $38.51 on Friday. The business’s 50-day simple moving average is $37.70 and its two-hundred day simple moving average is $33.87. The company has a market cap of $8.34 billion, a PE ratio of 9.39, a PEG ratio of 0.96 and a beta of 1.83. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.08%. Bath & Body Works’s payout ratio is presently 19.51%.

Analysts Set New Price Targets

Several research analysts have recently commented on BBWI shares. Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Barclays boosted their price target on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. raised Bath & Body Works from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $41.00 to $47.00 in a research report on Tuesday, February 18th. Telsey Advisory Group reissued an “outperform” rating and issued a $43.00 price target on shares of Bath & Body Works in a research report on Thursday. Finally, Morgan Stanley reduced their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.63.

Bath & Body Works Company 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.