OLD National Bancorp IN Reduces Stake in Bath & Body Works, Inc. (NYSE:BBWI)

OLD National Bancorp IN lowered its position in Bath & Body Works, Inc. (NYSE:BBWI) by 1.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 313,325 shares of the company’s stock after selling 5,411 shares during the period. OLD National Bancorp IN’s holdings in Bath & Body Works were worth $10,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 last quarter. Lone Pine Capital LLC raised its stake 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 purchasing an additional 1,547,399 shares during the last quarter. Anomaly Capital Management LP acquired a new position in Bath & Body Works in the 2nd quarter valued at $113,995,000. Sound Shore Management Inc. CT raised its stake 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 purchasing an additional 189,889 shares during the last quarter. Finally, Bessemer Group Inc. raised 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 valued at $72,443,000 after purchasing an additional 76,183 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 0.2 %

Bath & Body Works stock traded down $0.08 during midday trading on Friday, reaching $31.94. 1,627,338 shares of the stock traded hands, compared to its average volume of 3,682,893. The company has a 50-day simple moving average of $30.92 and a two-hundred day simple moving average of $38.50. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99. The firm has a market cap 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 announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. Equities research analysts anticipate that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BBWI shares. Citigroup cut their target price on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Evercore ISI cut their target price on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft cut their target price on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Wells Fargo & Company cut their target price on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.35.

Insider Activity

In related news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was 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 of the company’s stock, valued at $7,202,134.68. This represents a 0.00 % increase in their position. The transaction 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.

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.