Bath & Body Works, Inc. (NYSE:BBWI) Stock Position Lowered by Atreides Management LP

Atreides Management LP lessened its position in Bath & Body Works, Inc. (NYSE:BBWI) by 71.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 943,926 shares of the company’s stock after selling 2,395,454 shares during the period. Bath & Body Works makes up 0.8% of Atreides Management LP’s holdings, making the stock its 29th largest position. Atreides Management LP owned about 0.43% of Bath & Body Works worth $30,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Erste Asset Management GmbH bought a new stake in shares of Bath & Body Works in the 3rd quarter worth $50,483,000. True Wealth Design LLC raised its position in shares of Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after purchasing an additional 1,054 shares during the period. Verition Fund Management LLC raised its position in shares of Bath & Body Works by 111.8% during the third quarter. Verition Fund Management LLC now owns 1,345,777 shares of the company’s stock worth $42,957,000 after purchasing an additional 710,333 shares during the period. Captrust Financial Advisors raised its position in shares of Bath & Body Works by 57.2% during the third quarter. Captrust Financial Advisors now owns 16,059 shares of the company’s stock worth $513,000 after purchasing an additional 5,842 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Bath & Body Works by 3.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,158,390 shares of the company’s stock worth $36,976,000 after purchasing an additional 40,868 shares during the period. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Robert W. Baird cut their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Bank of America cut their target price on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Barclays boosted their target price on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 26th. Morgan Stanley cut their target price on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a report on Monday, November 25th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Insider Buying and Selling at Bath & Body Works

In related news, CEO Gina Boswell purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was bought 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. The trade was a 2.53 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $36.24 on Monday. The business’s 50-day moving average price is $31.19 and its two-hundred day moving average price is $35.48. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The company has a market capitalization of $7.85 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 1.36 and a beta of 1.79.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.21%. Bath & Body Works’s dividend payout ratio (DPR) is currently 19.51%.

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.