Squarepoint Ops LLC Decreases Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Squarepoint Ops LLC trimmed its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 97.6% in the second quarter, Holdings Channel.com reports. The fund owned 6,061 shares of the company’s stock after selling 249,013 shares during the period. Squarepoint Ops LLC’s holdings in Bath & Body Works were worth $237,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Bath & Body Works by 4.2% in the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after purchasing an additional 1,102,124 shares during the last quarter. Lone Pine Capital LLC raised its position in shares of Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after buying an additional 1,547,399 shares during the last quarter. Anomaly Capital Management LP purchased a new position in shares of Bath & Body Works during the second quarter valued at approximately $113,995,000. Sound Shore Management Inc. CT boosted its position in Bath & Body Works by 10.0% during the second 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 during the last quarter. Finally, Bessemer Group Inc. grew its stake in Bath & Body Works by 5.6% in the 1st quarter. Bessemer Group Inc. now owns 1,448,278 shares of the company’s stock worth $72,443,000 after acquiring an additional 76,183 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Trading Up 0.7 %

Shares of BBWI opened at $31.43 on Friday. The stock has a 50 day moving average of $30.88 and a 200-day moving average of $39.12. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 0.94 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations 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, sell-side analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s payout ratio is 19.37%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBWI. Barclays lowered their target price on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Bank of America cut their price target on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. UBS Group decreased their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company cut their price objective on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Robert W. Baird decreased their target price on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average price target of $42.35.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by company insiders.

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.