Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 375,079 shares of the company’s stock after selling 40,743 shares during the quarter. Sei Investments Co. owned about 0.17% of Bath & Body Works worth $14,542,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC acquired a new stake in Bath & Body Works during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its stake in shares of Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after buying an additional 329 shares during the period. True Wealth Design LLC increased its holdings in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares during the last quarter. UMB Bank n.a. raised its position in shares of Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after buying an additional 335 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after acquiring an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 3.0 %

Shares of BBWI opened at $30.93 on Friday. The company’s 50 day simple moving average is $35.21 and its 200-day simple moving average is $34.03. The firm has a market cap of $6.63 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a 12-month low of $26.21 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. As a group, equities research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works announced that its board has approved a stock buyback program on Thursday, February 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.59%. Bath & Body Works’s payout ratio is 21.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BBWI shares. Argus reissued a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Barclays cut their target price on shares of Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Piper Sandler raised their price target on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. TD Cowen upped their price objective on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup upgraded Bath & Body Works from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $48.00 in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.06.

Bath & Body Works Profile

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.