New York State Common Retirement Fund Sells 25,498 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

New York State Common Retirement Fund decreased its position in Bath & Body Works, Inc. (NYSE:BBWI) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 515,943 shares of the company’s stock after selling 25,498 shares during the quarter. New York State Common Retirement Fund’s holdings in Bath & Body Works were worth $16,469,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BBWI. Vanguard Group Inc. lifted its holdings in Bath & Body Works by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after purchasing an additional 1,102,124 shares during the last quarter. Lone Pine Capital LLC lifted its holdings in 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 worth $441,871,000 after purchasing an additional 1,547,399 shares during the last quarter. Anomaly Capital Management LP acquired a new stake in Bath & Body Works in the 2nd quarter worth approximately $113,995,000. Sound Shore Management Inc. CT lifted its holdings in Bath & Body Works by 10.0% in the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after purchasing an additional 189,889 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Bath & Body Works by 5.6% in the 1st quarter. Bessemer Group Inc. now owns 1,448,278 shares of the company’s stock worth $72,443,000 after purchasing an additional 76,183 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

NYSE:BBWI opened at $31.62 on Wednesday. The firm’s 50 day simple moving average is $30.08 and its 200 day simple moving average is $37.25. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The company has a market cap of $6.93 billion, a PE ratio of 7.66, a P/E/G ratio of 0.92 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last posted its 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. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. Equities research analysts expect that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.20 dividend. 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 payout ratio is 19.37%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a report on Monday, August 26th. Evercore ISI cut their price target on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, August 28th. Barclays cut their price target on Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Bank of America cut their target price on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Piper Sandler cut their target price on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.13.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of Bath & Body Works stock in a transaction dated 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 purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

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.