Wellington Management Group LLP Takes $8.13 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

Wellington Management Group LLP bought a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 254,673 shares of the company’s stock, valued at approximately $8,129,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBWI. Lone Pine Capital LLC raised its holdings in Bath & Body Works by 15.8% during the second 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 in the last quarter. Anomaly Capital Management LP acquired a new position in shares of Bath & Body Works in the 2nd quarter valued at $113,995,000. FMR LLC grew its position in shares of Bath & Body Works by 17,496.5% in the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after buying an additional 2,501,828 shares during the last quarter. Sound Shore Management Inc. CT raised its stake in Bath & Body Works by 10.0% during the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after acquiring an additional 189,889 shares in the last quarter. Finally, KBC Group NV lifted its position in Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after acquiring an additional 1,683,160 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction that occurred 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 completion of the purchase, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Bath & Body Works Stock Performance

BBWI stock opened at $38.22 on Monday. The stock has a market capitalization of $8.28 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.83. The company has a fifty day moving average of $32.59 and a 200-day moving average of $34.59. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99.

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

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.09%. Bath & Body Works’s dividend payout ratio (DPR) is presently 19.51%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Robert W. Baird dropped their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Piper Sandler boosted their price objective on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Raymond James decreased their price objective on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen lifted their target price on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.