Bath & Body Works, Inc. $BBWI Shares Acquired by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. significantly increased its stake in Bath & Body Works, owning 239,224 shares valued at $7.25 million after purchasing 229,975 additional shares during the first quarter.
• Bath & Body Works recently announced a quarterly dividend of $0.20 per share, representing an annualized dividend yield of 2.7%.
• Despite meeting earnings estimates, Bath & Body Works' quarterly revenue showed a 0.8% decline compared to the same quarter last year, while it guides for Q3 2025 EPS between 0.370-0.450.

Corebridge Financial Inc. raised its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 2,486.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,224 shares of the company's stock after purchasing an additional 229,975 shares during the period. Corebridge Financial Inc. owned 0.11% of Bath & Body Works worth $7,253,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its position in shares of Bath & Body Works by 7.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 11,016,767 shares of the company's stock worth $334,029,000 after purchasing an additional 781,681 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Bath & Body Works by 14,732.0% during the first quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company's stock worth $206,119,000 after purchasing an additional 6,752,274 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Bath & Body Works by 115.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,680,104 shares of the company's stock worth $111,581,000 after purchasing an additional 1,973,679 shares in the last quarter. Northern Trust Corp increased its position in shares of Bath & Body Works by 12.7% during the first quarter. Northern Trust Corp now owns 2,389,781 shares of the company's stock worth $72,458,000 after purchasing an additional 269,508 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Bath & Body Works by 9.8% during the first quarter. Bank of New York Mellon Corp now owns 2,274,388 shares of the company's stock worth $68,959,000 after purchasing an additional 203,724 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBWI has been the topic of a number of recent analyst reports. Barclays upped their price target on Bath & Body Works from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday. Morgan Stanley dropped their price objective on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. The Goldman Sachs Group dropped their price objective on shares of Bath & Body Works from $44.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $38.00 price objective on shares of Bath & Body Works in a report on Thursday, August 28th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.62.

Bath & Body Works Price Performance

NYSE:BBWI traded up $0.27 during mid-day trading on Tuesday, hitting $29.48. The company's stock had a trading volume of 3,501,671 shares, compared to its average volume of 5,192,490. Bath & Body Works, Inc. has a 1 year low of $24.94 and a 1 year high of $41.87. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.98 and a beta of 1.49. The business's fifty day moving average is $30.64 and its two-hundred day moving average is $30.69.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Bath & Body Works had a net margin of 9.88% and a negative return on equity of 48.43%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The firm's revenue was down .8% on a year-over-year basis. Bath & Body Works has set its Q3 2025 guidance at 0.370-0.45 EPS. FY 2025 guidance at 3.350-3.600 EPS. Analysts anticipate 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, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 22nd. Bath & Body Works's dividend payout ratio is presently 23.74%.

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.