Truist Financial Corp Sells 3,872 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Truist Financial Corp reduced its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 35.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,923 shares of the company’s stock after selling 3,872 shares during the period. Truist Financial Corp’s holdings in Bath & Body Works were worth $270,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BBWI. First Community Trust NA bought a new position in Bath & Body Works in the second quarter valued at $30,000. GAMMA Investing LLC boosted its position in shares of Bath & Body Works by 75.7% during the first quarter. GAMMA Investing LLC now owns 1,116 shares of the company’s stock valued at $56,000 after purchasing an additional 481 shares in the last quarter. EntryPoint Capital LLC lifted its position in Bath & Body Works by 224.0% during the 1st quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after acquiring an additional 1,017 shares during the period. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 524 shares during the last quarter. Finally, Tobam purchased a new position in Bath & Body Works during the second quarter valued at $114,000. 95.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Gina Boswell acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBWI. JPMorgan Chase & Co. lowered their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Citigroup dropped their target price 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. Evercore ISI decreased their target price on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 28th. The Goldman Sachs Group reduced their price target on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Piper Sandler lowered their price target on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.35.

Bath & Body Works Stock Down 0.2 %

Shares of Bath & Body Works stock opened at $31.94 on Friday. The stock’s fifty day moving average is $30.92 and its two-hundred day moving average is $38.57. 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 $7.13 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.77.

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 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%. As a group, research analysts anticipate that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

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.