Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Deutsche Bank AG

Deutsche Bank AG reduced its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 81.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,023 shares of the company's stock after selling 770,901 shares during the period. Deutsche Bank AG owned approximately 0.08% of Bath & Body Works worth $6,824,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BBWI. Vanguard Group Inc. increased its holdings in Bath & Body Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock valued at $1,093,306,000 after buying an additional 208,036 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Bath & Body Works by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company's stock worth $396,815,000 after acquiring an additional 422,973 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Bath & Body Works by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company's stock valued at $329,317,000 after purchasing an additional 445,887 shares in the last quarter. Alliancebernstein L.P. raised 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 worth $200,768,000 after purchasing an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP boosted its position 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 worth $188,456,000 after purchasing an additional 1,346,752 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BBWI. Piper Sandler set a $39.00 price target on Bath & Body Works and gave the company an "overweight" rating in a research report on Thursday, May 15th. Robert W. Baird lifted their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price target on shares of Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday. UBS Group lifted their price objective on Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $43.00 target price on shares of Bath & Body Works in a report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Bath & Body Works currently has an average rating of "Moderate Buy" and an average target price of $42.56.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI traded down $2.32 during trading on Wednesday, reaching $31.14. 4,526,498 shares of the stock were exchanged, compared to its average volume of 4,853,399. The firm's 50-day moving average price is $30.16 and its 200 day moving average price is $34.03. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a 12-month low of $24.96 and a 12-month high of $52.99.

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

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, June 6th. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Bath & Body Works announced that its board has initiated a share repurchase plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.