Geode Capital Management LLC Sells 1,744,779 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Geode Capital Management LLC lowered its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 32.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,595,131 shares of the company’s stock after selling 1,744,779 shares during the quarter. Geode Capital Management LLC owned about 1.64% of Bath & Body Works worth $114,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Anomaly Capital Management LP bought a new stake in Bath & Body Works during the 2nd quarter worth approximately $113,995,000. FMR LLC increased its stake in shares of Bath & Body Works by 17,496.5% in the third 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 in the last quarter. KBC Group NV raised its position in shares of 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 during the period. Erste Asset Management GmbH purchased a new position in shares of Bath & Body Works during the 3rd quarter valued at $50,483,000. Finally, Lone Pine Capital LLC boosted its holdings 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 buying an additional 1,547,399 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Trading Up 0.2 %

Shares of NYSE BBWI opened at $38.68 on Wednesday. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99. The firm’s 50-day moving average price is $32.95 and its 200-day moving average price is $34.41. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 9.43, a P/E/G ratio of 1.44 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last issued 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 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 period in the prior year, the business posted $0.48 earnings per share. On average, equities analysts predict that Bath & Body Works, Inc. will post 3.26 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 22nd. Bath & Body Works’s payout ratio is 19.51%.

Insider Buying and Selling at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BBWI. UBS Group decreased their price target on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Citigroup decreased their target price on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. TD Cowen increased their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, December 12th. The Goldman Sachs Group reduced their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, BMO Capital Markets restated an “outperform” rating and set a $50.00 target price (down previously from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. One investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.