Canada Pension Plan Investment Board Reduces Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Canada Pension Plan Investment Board cut its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,500 shares of the company’s stock after selling 8,600 shares during the period. Canada Pension Plan Investment Board’s holdings in Bath & Body Works were worth $3,846,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Bath & Body Works by 17.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,220,472 shares of the company’s stock valued at $52,675,000 after buying an additional 177,373 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Bath & Body Works by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 171,910 shares of the company’s stock valued at $7,420,000 after acquiring an additional 2,532 shares during the period. EverSource Wealth Advisors LLC grew its stake in Bath & Body Works by 72.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock valued at $35,000 after acquiring an additional 337 shares in the last quarter. Advisory Services Network LLC bought a new stake in Bath & Body Works during the 4th quarter worth approximately $170,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Bath & Body Works by 7.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 116,647 shares of the company’s stock worth $5,034,000 after purchasing an additional 7,867 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Stock Performance

BBWI stock opened at $30.52 on Thursday. The company has a market capitalization of $6.69 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.77. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The company’s 50 day moving average price is $32.10 and its two-hundred day moving average price is $40.46.

Bath & Body Works (NYSE:BBWI) last posted its quarterly 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. The firm had revenue of $1.53 billion for 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%. On average, research analysts predict that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is 20.62%.

Analyst Upgrades and Downgrades

BBWI has been the subject of a number of recent analyst reports. Robert W. Baird reduced their price target on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. The Goldman Sachs Group reduced their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Citigroup lowered their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Evercore ISI dropped their price target on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, August 28th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $53.00 price objective on shares of Bath & Body Works in a research report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Bath & Body Works presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

About Bath & Body Works

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.