The Manufacturers Life Insurance Company Has $2.57 Million Stake in Bath & Body Works, Inc. (NYSE:BBWI)

The Manufacturers Life Insurance Company reduced its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 54.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,609 shares of the company’s stock after selling 96,984 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Bath & Body Works were worth $2,573,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after buying an additional 900 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Bath & Body Works by 480.3% in the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after acquiring an additional 1,436 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Bath & Body Works by 34.4% in the third quarter. GAMMA Investing LLC now owns 2,481 shares of the company’s stock worth $79,000 after acquiring an additional 635 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Bath & Body Works during the third quarter worth $103,000. Finally, Blue Trust Inc. raised its stake in Bath & Body Works by 23.4% during the 2nd quarter. Blue Trust Inc. now owns 2,767 shares of the company’s stock valued at $108,000 after purchasing an additional 524 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Bath & Body Works Trading Down 0.5 %

BBWI opened at $36.60 on Monday. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The firm has a 50-day moving average price of $31.81 and a two-hundred day moving average price of $34.94. The stock has a market capitalization of $7.93 billion, a PE ratio of 8.93, a PEG ratio of 1.43 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS. On average, research analysts predict that Bath & Body Works, Inc. will post 3.26 EPS for the current year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.19%. Bath & Body Works’s dividend payout ratio is currently 19.51%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Evercore ISI lowered their price target on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 28th. Morgan Stanley reduced their price objective on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. Piper Sandler boosted their price objective on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company raised their target price on Bath & Body Works from $32.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and a consensus target price of $41.88.

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.