KBC Group NV Has $3.67 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

KBC Group NV reduced its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 89.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,175 shares of the company's stock after selling 1,056,619 shares during the quarter. KBC Group NV owned about 0.06% of Bath & Body Works worth $3,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bath & Body Works by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock worth $2,046,000 after purchasing an additional 12,964 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Bath & Body Works by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock valued at $3,428,000 after buying an additional 4,625 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Bath & Body Works during the fourth quarter worth about $258,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Bath & Body Works by 38.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,711 shares of the company's stock worth $1,265,000 after buying an additional 11,681 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Bath & Body Works during the 1st quarter worth about $714,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BBWI shares. 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, May 19th. Barclays cut their target price on shares of Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Wells Fargo & Company lifted their price target on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the company an "overweight" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley dropped their price objective on Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Bath & Body Works Stock Performance

Bath & Body Works stock traded up $0.36 during midday trading on Friday, reaching $33.14. The stock had a trading volume of 2,765,646 shares, compared to its average volume of 5,190,056. The stock has a market capitalization of $7.01 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.72. The firm's fifty day simple moving average is $29.84 and its 200-day simple moving average is $32.70. Bath & Body Works, Inc. has a 1-year low of $24.94 and a 1-year high of $41.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. Bath & Body Works had a net margin of 11.10% and a negative return on equity of 47.44%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the company earned $0.38 earnings per share. The firm's revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, June 6th. Bath & Body Works's payout ratio is presently 21.33%.

About Bath & Body Works

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.