Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 11.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,619 shares of the company’s stock after selling 4,834 shares during the quarter. Victory Capital Management Inc.’s holdings in Bath & Body Works were worth $1,169,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. First Community Trust NA purchased a new position in Bath & Body Works in the 2nd quarter worth approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Bath & Body Works by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after buying an additional 900 shares in the last quarter. GAMMA Investing LLC boosted its stake in Bath & Body Works by 65.4% during the second quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after buying an additional 730 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Bath & Body Works in the 3rd quarter valued at $103,000. Finally, Blue Trust Inc. increased its stake in shares of Bath & Body Works by 23.4% in the 2nd quarter. Blue Trust Inc. now owns 2,767 shares of the company’s stock worth $108,000 after acquiring an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $35.23 on Wednesday. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The company has a 50 day moving average price of $30.69 and a 200 day moving average price of $35.74. The stock has a market capitalization of $7.72 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 0.98 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. On average, research analysts forecast that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.27%. Bath & Body Works’s dividend payout ratio is currently 19.37%.

Insider Activity at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BBWI. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays boosted their target price on shares of Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday. TD Cowen raised their price target on shares of Bath & Body Works from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of Bath & Body Works from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Citigroup lowered their price objective on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.88.

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.