State of Alaska Department of Revenue Sells 99,526 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

State of Alaska Department of Revenue cut its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 79.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,340 shares of the company's stock after selling 99,526 shares during the period. State of Alaska Department of Revenue's holdings in Bath & Body Works were worth $768,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. SRS Capital Advisors Inc. grew its holdings in shares of Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after acquiring an additional 329 shares in the last quarter. Northwest Bank & Trust Co lifted its position in shares of Bath & Body Works by 2.9% during the fourth quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company's stock worth $533,000 after acquiring an additional 419 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after acquiring an additional 431 shares in the last quarter. Cornerstone Investment Partners LLC lifted its position in shares of Bath & Body Works by 3.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 12,248 shares of the company's stock worth $475,000 after acquiring an additional 452 shares in the last quarter. Finally, Nicolet Bankshares Inc. lifted its position in shares of Bath & Body Works by 2.8% during the fourth quarter. Nicolet Bankshares Inc. now owns 17,232 shares of the company's stock worth $668,000 after acquiring an additional 463 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BBWI. Piper Sandler set a $39.00 target price on Bath & Body Works and gave the stock an "overweight" rating in a research report on Thursday, May 15th. UBS Group increased their target price 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. Wells Fargo & Company increased their target price on Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Citigroup upped their price target on shares of Bath & Body Works from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, Barclays decreased their price target 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. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Bath & Body Works has an average rating of "Moderate Buy" and an average target price of $42.00.

Bath & Body Works Stock Performance

BBWI traded up $0.96 during trading on Friday, reaching $30.10. The stock had a trading volume of 5,144,822 shares, compared to its average volume of 5,149,431. The stock has a market cap of $6.37 billion, a PE ratio of 8.03, a PEG ratio of 1.08 and a beta of 1.72. Bath & Body Works, Inc. has a one year low of $24.94 and a one year high of $41.87. The business has a 50-day moving average of $29.51 and a 200-day moving average of $32.91.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.42 billion. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%. The firm's revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Equities research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.66%. Bath & Body Works's dividend payout ratio (DPR) is currently 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.