Sumitomo Mitsui Trust Group Inc. Sells 52,273 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 414,042 shares of the company’s stock after selling 52,273 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Bath & Body Works worth $13,216,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BBWI. Envestnet Portfolio Solutions Inc. increased its position in shares of Bath & Body Works by 5.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock valued at $279,000 after purchasing an additional 277 shares during the last quarter. CWM LLC increased its stake in Bath & Body Works by 6.6% in the second quarter. CWM LLC now owns 5,072 shares of the company’s stock worth $198,000 after purchasing an additional 314 shares during the period. Northwest Bank & Trust Co increased its stake in Bath & Body Works by 2.5% in the first quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after purchasing an additional 315 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Bath & Body Works by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after buying an additional 322 shares in the last quarter. Finally, Citizens & Northern Corp boosted its position in Bath & Body Works by 1.7% during the second quarter. Citizens & Northern Corp now owns 29,465 shares of the company’s stock valued at $1,151,000 after purchasing an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $31.54 on Monday. The stock has a fifty day moving average of $30.18 and a 200-day moving average of $36.38. The company has a market capitalization of $6.91 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 1.00 and a beta of 1.79. 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 posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate 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 forecast that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s dividend payout ratio is currently 19.37%.

Insider Activity

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 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Robert W. Baird reduced their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $50.00 price target (down previously from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. UBS Group decreased their target price on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Company reduced their price target on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Finally, Evercore ISI reduced their price target 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average price target of $42.44.

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.