Vanguard Group Inc. Sells 432,432 Shares of Bath & Body Works, Inc. $BBWI

Vanguard Group Inc. trimmed its position in Bath & Body Works, Inc. (NYSE:BBWI) by 1.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 26,532,844 shares of the company’s stock after selling 432,432 shares during the period. Vanguard Group Inc. owned about 0.13% of Bath & Body Works worth $683,486,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Bath & Body Works by 92.8% during the first quarter. Royal Bank of Canada now owns 59,877 shares of the company’s stock valued at $1,815,000 after purchasing an additional 28,815 shares during the period. Goldman Sachs Group Inc. lifted its position in Bath & Body Works by 15.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 645,970 shares of the company’s stock worth $19,586,000 after buying an additional 87,529 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Bath & Body Works by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 562,757 shares of the company’s stock valued at $17,063,000 after purchasing an additional 36,684 shares in the last quarter. Intech Investment Management LLC acquired a new position in Bath & Body Works during the first quarter worth $1,155,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Bath & Body Works by 217.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock worth $35,000 after purchasing an additional 801 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America set a $26.00 target price on shares of Bath & Body Works in a report on Monday, November 24th. Morgan Stanley reiterated an “equal weight” rating and set a $18.00 price objective (down from $43.00) on shares of Bath & Body Works in a research note on Friday, November 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of Bath & Body Works in a report on Thursday, January 8th. They issued a “hold” rating and a $21.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Bath & Body Works in a research report on Wednesday, January 14th. They set a “hold” rating and a $24.00 price objective for the company. Finally, Telsey Advisory Group downgraded Bath & Body Works from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $38.00 to $17.00 in a research report on Friday, November 21st. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Bath & Body Works has an average rating of “Hold” and an average price target of $23.29.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $22.51 on Tuesday. Bath & Body Works, Inc. has a 52-week low of $14.27 and a 52-week high of $41.87. The business’s 50 day simple moving average is $21.87 and its two-hundred day simple moving average is $23.84. The firm has a market cap of $4.61 billion, a P/E ratio of 6.93, a PEG ratio of 1.07 and a beta of 1.54.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, February 20th. This represents a $0.80 annualized dividend and a yield of 3.6%. Bath & Body Works’s payout ratio is 24.62%.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.