CIBC Asset Management Inc Sells 6,858 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

CIBC Asset Management Inc lessened its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 32.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,220 shares of the company’s stock after selling 6,858 shares during the quarter. CIBC Asset Management Inc’s holdings in Bath & Body Works were worth $551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBWI. Golden State Wealth Management LLC bought a new stake in Bath & Body Works during the 4th quarter valued at approximately $26,000. True Wealth Design LLC raised its stake in Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the period. UMB Bank n.a. raised its stake in Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after purchasing an additional 335 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works during the 3rd quarter valued at approximately $39,000. Finally, TD Private Client Wealth LLC raised its stake in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after purchasing an additional 331 shares during the period. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Down 4.5 %

BBWI opened at $38.51 on Friday. The business has a fifty day moving average of $37.70 and a 200 day moving average of $33.87. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The stock has a market cap of $8.34 billion, a P/E ratio of 9.39, a PEG ratio of 0.96 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business earned $0.48 EPS. Bath & Body Works’s revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, February 21st. Bath & Body Works’s payout ratio is currently 19.51%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Argus reissued a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $42.00 to $48.00 in a research note on Friday, January 10th. Piper Sandler lifted their price objective on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.63.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.