Kentucky Retirement Systems Insurance Trust Fund Has $211,000 Position in Bath & Body Works, Inc. (NYSE:BBWI)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 8.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,609 shares of the company’s stock after selling 605 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Bath & Body Works were worth $211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Bath & Body Works by 4.2% in the 1st 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 period. Lone Pine Capital LLC increased its position in Bath & Body Works by 15.8% in the 2nd 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 in the last quarter. Anomaly Capital Management LP bought a new stake in Bath & Body Works in the 2nd quarter valued at about $113,995,000. Sound Shore Management Inc. CT increased its position in Bath & Body Works by 10.0% in the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock valued at $81,564,000 after buying an additional 189,889 shares in the last quarter. Finally, KBC Group NV increased its holdings in Bath & Body Works by 9,023.5% during the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on BBWI. The Goldman Sachs Group decreased their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Citigroup dropped their price objective on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Barclays downgraded Bath & Body Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $31.00 to $28.00 in a research note on Friday, November 8th. Wells Fargo & Company dropped their price objective on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Finally, Raymond James dropped their target price on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. One research 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.44.

Bath & Body Works Trading Down 3.2 %

Shares of NYSE:BBWI opened at $30.45 on Wednesday. The stock’s 50-day moving average price is $30.34 and its 200-day moving average price is $36.18. The stock has a market capitalization of $6.67 billion, a P/E ratio of 7.37, a price-to-earnings-growth ratio of 1.00 and a beta of 1.79. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates 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 predict that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. Bath & Body Works’s payout ratio is 19.37%.

Insider Activity

In other news, CEO Gina Boswell purchased 6,000 shares of Bath & Body Works stock in a transaction that occurred on Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

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.