Sumitomo Mitsui Trust Holdings Inc. Sells 23,190 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,677 shares of the company's stock after selling 23,190 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of Bath & Body Works worth $22,516,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Front Row Advisors LLC purchased a new stake in Bath & Body Works during the third quarter worth $25,000. Trust Co. of Vermont purchased a new stake in Bath & Body Works during the third quarter worth $27,000. Denali Advisors LLC acquired a new position in shares of Bath & Body Works in the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bath & Body Works in the fourth quarter worth $35,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Bath & Body Works in the fourth quarter worth $43,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Trading Down 0.1 %

NYSE BBWI traded down $0.05 on Monday, hitting $43.94. 2,435,717 shares of the stock traded hands, compared to its average volume of 2,766,356. The stock has a 50-day moving average of $46.14 and a 200 day moving average of $40.27. Bath & Body Works, Inc. has a twelve month low of $27.30 and a twelve month high of $50.34. The company has a market capitalization of $9.88 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 1.43 and a beta of 1.86.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.21. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.84 billion. Bath & Body Works had a negative return on equity of 37.01% and a net margin of 11.82%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 EPS. As a group, equities research analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.82%. The ex-dividend date was Thursday, February 22nd. Bath & Body Works's dividend payout ratio is currently 20.78%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Bath & Body Works from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Friday, March 1st. Barclays lowered Bath & Body Works from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $37.00 to $45.00 in a research note on Thursday, January 4th. Robert W. Baird upped their target price on Bath & Body Works from $50.00 to $54.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. The Goldman Sachs Group upped their target price on Bath & Body Works from $49.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, March 4th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $53.00 target price on shares of Bath & Body Works in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.33.

Insider Activity at Bath & Body Works

In related news, insider Thomas E. Mazurek sold 4,285 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total value of $209,493.65. Following the sale, the insider now directly owns 45,992 shares in the company, valued at approximately $2,248,548.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Bath & Body Works Profile

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.