Hsbc Holdings PLC Decreases Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Hsbc Holdings PLC reduced its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 83.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,257 shares of the company's stock after selling 1,397,182 shares during the quarter. Hsbc Holdings PLC owned approximately 0.13% of Bath & Body Works worth $11,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new position in shares of Bath & Body Works in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its stake 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 worth $26,000 after acquiring an additional 329 shares in the last quarter. UMB Bank n.a. increased its position in shares of Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after acquiring an additional 335 shares during the period. Lindbrook Capital LLC raised its stake in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock valued at $37,000 after acquiring an additional 431 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bath & Body Works in the third quarter valued at $39,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BBWI shares. Wells Fargo & Company reduced their price target on Bath & Body Works from $48.00 to $40.00 and set an "overweight" rating on the stock in a research report on Wednesday. Piper Sandler upgraded shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $38.00 to $35.00 in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Raymond James reduced their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, Citigroup lowered their target price on shares of Bath & Body Works from $48.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Bath & Body Works presently has an average rating of "Moderate Buy" and an average target price of $42.19.

Bath & Body Works Trading Up 3.8 %

Shares of BBWI traded up $1.13 during mid-day trading on Friday, hitting $31.18. 2,876,748 shares of the company's stock were exchanged, compared to its average volume of 4,806,804. The firm has a market capitalization of $6.64 billion, a P/E ratio of 7.60, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a fifty-two week low of $24.96 and a fifty-two week high of $52.99. The business's 50 day moving average is $30.42 and its two-hundred day moving average is $33.82.

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

Bath & Body Works announced that its board has authorized a share repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.57%. Bath & Body Works's payout ratio is 21.98%.

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.