Public Sector Pension Investment Board Buys 434,578 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Public Sector Pension Investment Board grew its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 4,401.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,452 shares of the company’s stock after acquiring an additional 434,578 shares during the period. Public Sector Pension Investment Board owned 0.20% of Bath & Body Works worth $14,187,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lone Pine Capital LLC grew its stake in Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after acquiring an additional 1,547,399 shares in the last quarter. Anomaly Capital Management LP purchased a new stake in shares of Bath & Body Works in the 2nd quarter worth approximately $113,995,000. FMR LLC lifted its position in shares of Bath & Body Works by 17,496.5% in the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after purchasing an additional 2,501,828 shares during the period. Sound Shore Management Inc. CT lifted its position in shares of Bath & Body Works by 10.0% in the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after purchasing an additional 189,889 shares during the period. Finally, KBC Group NV lifted its position in shares of Bath & Body Works by 9,023.5% in the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after purchasing an additional 1,683,160 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BBWI shares. Piper Sandler increased their target price on shares of Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday. Robert W. Baird decreased their target price on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Evercore ISI decreased their target price on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, August 28th. The Goldman Sachs Group decreased their target price on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Morgan Stanley decreased their target price on shares of 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 analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Bath & Body Works Price Performance

NYSE:BBWI opened at $35.90 on Friday. The firm has a market capitalization of $7.78 billion, a P/E ratio of 8.76, a PEG ratio of 1.35 and a beta of 1.79. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The company’s fifty day moving average price is $30.93 and its 200-day moving average price is $35.65.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.24 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.20 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. Bath & Body Works’s payout ratio is currently 19.51%.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

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.