OLD National Bancorp IN Lowers Position in Bath & Body Works, Inc. (NYSE:BBWI)

OLD National Bancorp IN lessened its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 2.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 304,462 shares of the company’s stock after selling 8,863 shares during the period. OLD National Bancorp IN owned 0.14% of Bath & Body Works worth $11,804,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in Bath & Body Works during the fourth quarter valued at about $440,000. 1834 Investment Advisors Co. raised its position in Bath & Body Works by 5.5% during the fourth quarter. 1834 Investment Advisors Co. now owns 15,957 shares of the company’s stock valued at $619,000 after purchasing an additional 830 shares in the last quarter. Avior Wealth Management LLC raised its position in Bath & Body Works by 30.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,950 shares of the company’s stock valued at $76,000 after purchasing an additional 453 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Bath & Body Works during the fourth quarter valued at about $372,000. Finally, Missouri Trust & Investment Co raised its position in Bath & Body Works by 7.2% during the fourth quarter. Missouri Trust & Investment Co now owns 39,570 shares of the company’s stock valued at $1,534,000 after purchasing an additional 2,660 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

Bath & Body Works stock opened at $37.66 on Thursday. The stock’s 50 day simple moving average is $37.27 and its two-hundred day simple moving average is $33.64. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 1.01 and a beta of 1.82. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. On average, analysts predict that Bath & Body Works, Inc. will post 3.26 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a $0.20 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.12%. Bath & Body Works’s dividend payout ratio is currently 19.51%.

Analysts Set New Price Targets

BBWI has been the topic of a number of research reports. Piper Sandler raised their price target on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $42.00 to $48.00 in a research report on Friday, January 10th. TD Cowen lifted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Barclays lifted their price objective on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.19.

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.