Picton Mahoney Asset Management Sells 5,065 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Picton Mahoney Asset Management reduced its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,100 shares of the company’s stock after selling 5,065 shares during the quarter. Picton Mahoney Asset Management’s holdings in Bath & Body Works were worth $2,292,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. grew its position in shares of Bath & Body Works by 17.1% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after purchasing an additional 235 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Bath & Body Works by 3.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,044 shares of the company’s stock valued at $373,000 after purchasing an additional 348 shares during the period. CWM LLC grew its position in shares of Bath & Body Works by 7.3% in the 4th quarter. CWM LLC now owns 5,167 shares of the company’s stock valued at $223,000 after purchasing an additional 353 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Bath & Body Works by 1.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 31,475 shares of the company’s stock valued at $1,349,000 after purchasing an additional 414 shares during the period. Finally, Diversified Trust Co grew its position in shares of Bath & Body Works by 1.9% in the 4th quarter. Diversified Trust Co now owns 23,663 shares of the company’s stock valued at $1,021,000 after purchasing an additional 435 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Telsey Advisory Group restated an “outperform” rating and issued a $53.00 target price on shares of Bath & Body Works in a research note on Friday, April 5th. BMO Capital Markets boosted their target price on Bath & Body Works from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Piper Sandler boosted their target price on Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group boosted 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, Evercore ISI upped their price objective on Bath & Body Works from $30.00 to $45.00 and gave the stock an “in-line” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.73.

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 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 transaction, the insider now directly owns 45,992 shares of the company’s stock, valued at approximately $2,248,548.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Bath & Body Works Trading Up 0.8 %

BBWI opened at $47.62 on Thursday. Bath & Body Works, Inc. has a 1-year low of $27.30 and a 1-year high of $50.34. The stock’s fifty day simple moving average is $46.07 and its 200 day simple moving average is $41.43. The stock has a market cap of $10.71 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.49 and a beta of 1.89.

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

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, February 22nd. Bath & Body Works’s dividend payout ratio is 20.78%.

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.