abrdn plc Acquires 39,846 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

abrdn plc boosted its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 70.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,346 shares of the company's stock after purchasing an additional 39,846 shares during the period. abrdn plc's holdings in Bath & Body Works were worth $4,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Bath & Body Works by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 25,689,543 shares of the company's stock valued at $868,307,000 after acquiring an additional 67,920 shares during the last quarter. Darsana Capital Partners LP acquired a new stake in shares of Bath & Body Works during the 3rd quarter valued at $76,050,000. Charles Schwab Investment Management Inc. raised its stake in Bath & Body Works by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,925,647 shares of the company's stock valued at $65,087,000 after purchasing an additional 27,627 shares during the period. Alua Capital Management LP raised its stake in Bath & Body Works by 30.2% during the 3rd quarter. Alua Capital Management LP now owns 1,693,200 shares of the company's stock valued at $57,230,000 after purchasing an additional 392,800 shares during the period. Finally, Earnest Partners LLC raised its stake in Bath & Body Works by 1,055,015.7% during the 3rd quarter. Earnest Partners LLC now owns 1,276,690 shares of the company's stock valued at $43,152,000 after purchasing an additional 1,276,569 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Bath & Body Works Price Performance

NYSE:BBWI traded up $0.44 during trading hours on Friday, reaching $46.04. The company's stock had a trading volume of 1,542,343 shares, compared to its average volume of 2,433,098. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.49 and a beta of 1.86. Bath & Body Works, Inc. has a one year low of $27.30 and a one year high of $50.34. The business's 50-day moving average is $46.22 and its 200-day moving average is $40.67.

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

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Thursday, February 22nd. Bath & Body Works's dividend payout ratio (DPR) is 20.78%.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the company's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total transaction of $209,493.65. Following the completion of the sale, the insider now directly owns 45,992 shares in the company, valued at $2,248,548.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Bath & Body Works from $49.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, March 4th. TD Cowen boosted their target price on shares of Bath & Body Works from $35.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. Wells Fargo & Company boosted their target price on shares of Bath & Body Works from $42.00 to $48.00 and gave the company an "equal weight" rating in a research note on Wednesday. Barclays downgraded shares of Bath & Body Works from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $37.00 to $45.00 in a research note on Thursday, January 4th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $53.00 target price on shares of Bath & Body Works in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $46.73.

About Bath & Body Works

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.