Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,120,273 shares of the company's stock after selling 271,242 shares during the quarter. Northern Trust Corp owned 0.98% of Bath & Body Works worth $82,203,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. D1 Capital Partners L.P. purchased a new position in Bath & Body Works in the 4th quarter worth about $109,797,000. Norges Bank purchased a new stake in shares of Bath & Body Works in the 4th quarter worth $73,572,000. Arrowstreet Capital Limited Partnership raised its holdings in Bath & Body Works by 79.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock worth $150,507,000 after purchasing an additional 1,715,096 shares during the period. Alliancebernstein L.P. grew its holdings in Bath & Body Works by 35.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock valued at $200,768,000 after purchasing an additional 1,360,264 shares during the period. Finally, Anomaly Capital Management LP grew its holdings in Bath & Body Works by 38.3% during the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock valued at $188,456,000 after purchasing an additional 1,346,752 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Stock Performance

BBWI traded up $0.64 during trading on Wednesday, hitting $30.51. 2,509,755 shares of the stock were exchanged, compared to its average volume of 4,796,776. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $52.99. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 0.92 and a beta of 1.87. The firm has a 50 day simple moving average of $29.97 and a 200 day simple moving average of $33.77.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.05. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, equities analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its board has initiated a stock buyback program on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's payout ratio is 21.98%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BBWI shares. Robert W. Baird increased their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Cowen reiterated a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their price objective on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Barclays lowered their target price on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Finally, The Goldman Sachs Group cut their target price on shares of Bath & Body Works from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Bath & Body Works presently has an average rating of "Moderate Buy" and an average target price of $41.88.

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.