Newport Trust Company LLC Sells 65,518 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Newport Trust Company LLC trimmed its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 10.8% in the second quarter, HoldingsChannel reports. The firm owned 540,987 shares of the company’s stock after selling 65,518 shares during the quarter. Newport Trust Company LLC’s holdings in Bath & Body Works were worth $21,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Bath & Body Works by 17.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,220,472 shares of the company’s stock worth $52,675,000 after acquiring an additional 177,373 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Bath & Body Works in the 4th quarter valued at $228,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Bath & Body Works by 5.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,481 shares of the company’s stock worth $539,000 after buying an additional 632 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Bath & Body Works in the fourth quarter valued at about $853,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of Bath & Body Works in the fourth quarter valued at about $250,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $29.92 on Friday. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The company has a market capitalization of $6.68 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.86 and a beta of 1.77. The company has a fifty day moving average of $32.89 and a 200-day moving average of $40.98.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is currently 20.62%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price objective on shares of Bath & Body Works in a research note on Wednesday, August 28th. Citigroup dropped their price target on shares of 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. Deutsche Bank Aktiengesellschaft reduced their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Bank of America cut their target price on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, UBS Group decreased their price target on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.