Bronte Capital Management Pty Ltd. Sells 7,249 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Bronte Capital Management Pty Ltd. lessened its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,925 shares of the company’s stock after selling 7,249 shares during the quarter. Bath & Body Works comprises 0.6% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 20th biggest holding. Bronte Capital Management Pty Ltd. owned approximately 0.08% of Bath & Body Works worth $7,026,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Andra AP fonden boosted its position in shares of Bath & Body Works by 60.7% during the 2nd quarter. Andra AP fonden now owns 452,300 shares of the company’s stock valued at $17,662,000 after acquiring an additional 170,900 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Bath & Body Works by 46,045.8% in the 2nd quarter. Quest Partners LLC now owns 11,075 shares of the company’s stock worth $432,000 after purchasing an additional 11,051 shares during the period. Oak Thistle LLC bought a new position in shares of Bath & Body Works during the 2nd quarter valued at approximately $634,000. Acadian Asset Management LLC lifted its position in Bath & Body Works by 3,286.1% in the second quarter. Acadian Asset Management LLC now owns 15,847 shares of the company’s stock worth $616,000 after buying an additional 15,379 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Bath & Body Works by 23.3% during the second quarter. National Bank of Canada FI now owns 60,572 shares of the company’s stock worth $2,328,000 after buying an additional 11,430 shares during the period. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Down 3.7 %

Bath & Body Works stock opened at $27.52 on Tuesday. Bath & Body Works, Inc. has a 52 week low of $27.30 and a 52 week high of $52.99. The stock has a 50-day moving average price of $34.20 and a 200 day moving average price of $41.87. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 0.97 and a beta of 1.77.

Bath & Body Works Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.91%. Bath & Body Works’s payout ratio is currently 20.62%.

Analyst Ratings Changes

BBWI has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Piper Sandler decreased their price objective on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Barclays cut their target price on Bath & Body Works from $32.00 to $31.00 and set an “equal weight” 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, Evercore ISI dropped their price objective on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.00.

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.