Truist Financial Corp Sells 347 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Truist Financial Corp decreased its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,266 shares of the company’s stock after selling 347 shares during the quarter. Truist Financial Corp’s holdings in Bath & Body Works were worth $243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new position in Bath & Body Works during the 4th quarter worth about $26,000. True Wealth Design LLC lifted its stake in shares of Bath & Body Works by 5,270.0% in the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after acquiring an additional 1,054 shares during the period. UMB Bank n.a. boosted its holdings in Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after acquiring an additional 335 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works in the third quarter valued at approximately $39,000. Finally, TD Private Client Wealth LLC increased its position in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after purchasing an additional 331 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BBWI. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Argus reaffirmed a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. TD Cowen boosted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird raised their target price on Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.06.

Bath & Body Works Trading Up 1.1 %

NYSE BBWI opened at $34.63 on Thursday. The company has a fifty day simple moving average of $37.45 and a 200 day simple moving average of $34.18. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99. The company has a market cap of $7.50 billion, a P/E ratio of 8.45, a PEG ratio of 0.92 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Bath & Body Works declared that its board has authorized a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

About Bath & Body Works

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.