Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,895 shares of the company's stock after selling 29,778 shares during the quarter. Wellington Management Group LLP owned about 0.10% of Bath & Body Works worth $8,719,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Bath & Body Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock worth $1,093,306,000 after purchasing an additional 208,036 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Bath & Body Works by 4.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company's stock worth $396,815,000 after purchasing an additional 422,973 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bath & Body Works by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company's stock worth $329,317,000 after purchasing an additional 445,887 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of 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 period. Finally, Anomaly Capital Management LP lifted its holdings in shares of 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 during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

Bath & Body Works stock traded down $0.08 during midday trading on Wednesday, reaching $27.07. 6,018,905 shares of the company were exchanged, compared to its average volume of 5,021,314. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 6.60, a P/E/G ratio of 0.92 and a beta of 1.87. The firm's 50-day simple moving average is $29.87 and its 200-day simple moving average is $33.89. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $49.20.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.42 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. On average, analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, June 6th. Bath & Body Works's dividend payout ratio (DPR) is 21.33%.

Bath & Body Works announced that its board has approved a stock repurchase plan on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

BBWI has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Barclays decreased their price target on Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Piper Sandler set a $39.00 price target on Bath & Body Works and gave the stock an "overweight" rating in a report on Thursday, May 15th. Morgan Stanley cut their price objective on Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, UBS Group increased 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, May 20th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

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.