MetLife Investment Management LLC Sells 55,736 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

MetLife Investment Management LLC lowered its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 93.4% during the third quarter, Holdings Channel reports. The firm owned 3,941 shares of the company’s stock after selling 55,736 shares during the period. MetLife Investment Management LLC’s holdings in Bath & Body Works were worth $126,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares during the period. Meeder Asset Management Inc. raised its holdings in Bath & Body Works by 480.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after acquiring an additional 1,436 shares during the period. GAMMA Investing LLC lifted its position in Bath & Body Works by 34.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,481 shares of the company’s stock worth $79,000 after acquiring an additional 635 shares during the last quarter. Blue Trust Inc. boosted its holdings in Bath & Body Works by 23.4% during the second quarter. Blue Trust Inc. now owns 2,767 shares of the company’s stock valued at $108,000 after acquiring an additional 524 shares during the period. Finally, Tobam acquired a new stake in shares of Bath & Body Works in the second quarter valued at about $114,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insiders Place Their Bets

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. This trade represents a 2.53 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler boosted their price objective on Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Citigroup reduced their price objective on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Barclays boosted their target price on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 26th. TD Cowen upped their target price on shares of Bath & Body Works from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI dropped their price objective on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Trading Up 7.1 %

BBWI stock opened at $39.20 on Tuesday. The firm has a market cap of $8.49 billion, a P/E ratio of 9.56, a P/E/G ratio of 1.37 and a beta of 1.83. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The business’s 50 day moving average is $31.95 and its 200-day moving average is $34.88.

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

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.04%. Bath & Body Works’s dividend payout ratio is 19.51%.

Bath & Body Works Company 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.