Tidal Investments LLC Sells 5,879 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Tidal Investments LLC trimmed its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 9.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,225 shares of the company’s stock after selling 5,879 shares during the period. Tidal Investments LLC’s holdings in Bath & Body Works were worth $1,859,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Bath & Body Works by 18.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,572 shares of the company’s stock worth $257,000 after acquiring an additional 1,001 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Bath & Body Works by 23.4% during the 2nd quarter. Blue Trust Inc. now owns 2,767 shares of the company’s stock worth $108,000 after acquiring an additional 524 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Bath & Body Works by 22.8% during the 2nd quarter. Raymond James & Associates now owns 83,974 shares of the company’s stock worth $3,279,000 after acquiring an additional 15,602 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Bath & Body Works by 7.3% during the 2nd quarter. Fifth Third Bancorp now owns 13,597 shares of the company’s stock worth $531,000 after acquiring an additional 930 shares during the last quarter. Finally, Horizon Bancorp Inc. IN lifted its stake in shares of Bath & Body Works by 19.6% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 4,232 shares of the company’s stock worth $165,000 after acquiring an additional 695 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Price Performance

Shares of BBWI stock opened at $38.68 on Wednesday. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The stock’s fifty day moving average price is $32.95 and its 200 day moving average price is $34.41. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $0.48 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Bath & Body Works, Inc. will post 3.26 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.80 annualized dividend and a yield of 2.07%. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Analyst Upgrades and Downgrades

BBWI has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Telsey Advisory Group reissued an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research note on Monday, November 25th. Piper Sandler lifted their target price on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. UBS Group decreased their target price on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group decreased their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned 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 a consensus target price of $42.50.

Insider Buying and Selling

In other news, CEO Gina Boswell purchased 6,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were acquired at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is 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.