Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in Bath & Body Works, Inc. (NYSE:BBWI) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,402 shares of the company’s stock after selling 1,658 shares during the period. Amalgamated Bank’s holdings in Bath & Body Works were worth $2,652,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BBWI. Y Intercept Hong Kong Ltd lifted its position in Bath & Body Works by 93.9% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 29,375 shares of the company’s stock valued at $1,139,000 after buying an additional 14,225 shares in the last quarter. South Dakota Investment Council lifted its stake in shares of Bath & Body Works by 2.2% during the fourth quarter. South Dakota Investment Council now owns 429,504 shares of the company’s stock worth $16,652,000 after purchasing an additional 9,063 shares in the last quarter. Howard Capital Management Inc. purchased a new stake in shares of Bath & Body Works in the fourth quarter worth about $363,000. Wealthspire Advisors LLC acquired a new stake in shares of Bath & Body Works in the fourth quarter valued at about $213,000. Finally, Tandem Investment Advisors Inc. purchased a new stake in shares of Bath & Body Works during the 4th quarter valued at about $215,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Up 1.0 %

Shares of NYSE BBWI opened at $36.22 on Friday. The firm’s 50-day moving average price is $37.70 and its two-hundred day moving average price is $34.13. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The stock has a market capitalization of $7.84 billion, a P/E ratio of 8.83, a P/E/G ratio of 0.92 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.05. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.21%. Bath & Body Works’s dividend payout ratio is currently 19.51%.

Bath & Body Works announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BBWI shares. Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Morgan Stanley cut their target price on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. TD Cowen raised their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barclays upgraded shares of Bath & Body Works from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $34.00 to $43.00 in a research note on Monday, February 24th. Finally, Piper Sandler increased their price objective on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Bath & Body Works has an average rating of “Moderate Buy” and an average target price of $45.38.

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.