Y Intercept Hong Kong Ltd Sells 86,008 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Y Intercept Hong Kong Ltd cut its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 85.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,150 shares of the company’s stock after selling 86,008 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Bath & Body Works were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BBWI. Forest Avenue Capital Management LP boosted its holdings in shares of Bath & Body Works by 19.1% in the third quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company’s stock worth $46,851,000 after acquiring an additional 235,173 shares during the period. Anthracite Investment Company Inc. purchased a new stake in Bath & Body Works during the 3rd quarter worth about $2,921,000. Principal Financial Group Inc. boosted its stake in Bath & Body Works by 328.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock worth $34,153,000 after purchasing an additional 820,379 shares during the period. New York State Teachers Retirement System grew its holdings in Bath & Body Works by 18.1% during the 3rd quarter. New York State Teachers Retirement System now owns 266,235 shares of the company’s stock valued at $8,498,000 after buying an additional 40,793 shares in the last quarter. Finally, Weiss Asset Management LP increased its position in shares of Bath & Body Works by 29.0% during the third quarter. Weiss Asset Management LP now owns 377,969 shares of the company’s stock valued at $12,065,000 after buying an additional 84,873 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BBWI has been the subject of a number of analyst reports. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a research report on Monday, November 25th. Barclays raised their price target on shares of Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their price target on shares of Bath & Body Works from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler upped their target price on Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.50.

Bath & Body Works Price Performance

NYSE:BBWI opened at $38.22 on Monday. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The business has a 50 day moving average of $32.59 and a 200 day moving average of $34.59. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.44 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. As a group, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.26 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.09%. Bath & Body Works’s dividend payout ratio is currently 19.51%.

Insider Activity

In other news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were purchased 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 owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

About Bath & Body Works

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.