Bronte Capital Management Pty Ltd. Lowers Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Bronte Capital Management Pty Ltd. lessened its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 26.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,323 shares of the company’s stock after selling 47,602 shares during the quarter. Bath & Body Works comprises 0.4% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 21st largest position. Bronte Capital Management Pty Ltd.’s holdings in Bath & Body Works were worth $4,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Anomaly Capital Management LP bought a new stake in shares of Bath & Body Works in the 2nd quarter worth approximately $113,995,000. Lone Pine Capital LLC boosted its holdings in Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after acquiring an additional 1,547,399 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Bath & Body Works by 4.2% in the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after acquiring an additional 1,102,124 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Bath & Body Works by 723.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock valued at $37,268,000 after acquiring an additional 1,025,757 shares in the last quarter. Finally, Interval Partners LP raised its position in shares of Bath & Body Works by 230.0% in the 2nd quarter. Interval Partners LP now owns 1,280,593 shares of the company’s stock worth $50,007,000 after purchasing an additional 892,488 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Up 5.0 %

BBWI opened at $31.51 on Tuesday. The company’s 50 day moving average is $30.02 and its 200 day moving average is $36.77. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 0.95 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 issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations 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, analysts predict that Bath & Body Works, Inc. will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, November 22nd. Bath & Body Works’s dividend payout ratio is presently 19.37%.

Insiders Place Their Bets

In related news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average cost of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James cut their price objective on shares of 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. BMO Capital Markets reissued an “outperform” rating and set a $50.00 price target (down previously from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. 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 note on Thursday, August 29th. The Goldman Sachs Group decreased their price target 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. Finally, 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 report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.44.

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.