abrdn plc Sells 57,529 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

abrdn plc cut its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 86.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,974 shares of the company’s stock after selling 57,529 shares during the quarter. abrdn plc’s holdings in Bath & Body Works were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Anomaly Capital Management LP acquired a new stake in Bath & Body Works in the second quarter valued at approximately $113,995,000. Lone Pine Capital LLC lifted its stake in shares of Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after acquiring an additional 1,547,399 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Bath & Body Works by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after acquiring an additional 1,102,124 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Bath & Body Works by 723.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock worth $37,268,000 after acquiring an additional 1,025,757 shares during the last quarter. Finally, Interval Partners LP increased its holdings in Bath & Body Works by 230.0% in the 2nd quarter. Interval Partners LP now owns 1,280,593 shares of the company’s stock worth $50,007,000 after purchasing an additional 892,488 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Price Performance

NYSE BBWI opened at $31.62 on Wednesday. The stock has a market capitalization of $6.93 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.92 and a beta of 1.79. The business has a 50 day simple moving average of $30.08 and a 200 day simple moving average of $37.25. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The company 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%. Equities analysts expect that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.53%. Bath & Body Works’s dividend payout ratio is currently 19.37%.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average cost of $29.64 per share, with a total value of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research report on Thursday, September 26th. Raymond James cut their price target on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. The Goldman Sachs Group reduced their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lowered their target price on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.13.

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.