Atreides Management LP Sells 2,395,454 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Atreides Management LP lessened its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 71.7% in the 3rd quarter, according to the company in 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 quarter. Bath & Body Works comprises approximately 0.8% of Atreides Management LP’s holdings, making the stock its 29th largest position. Atreides Management LP’s holdings in Bath & Body Works were worth $30,130,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Community Trust NA acquired a new position in shares of Bath & Body Works during the 2nd quarter worth about $30,000. True Wealth Design LLC lifted its position in shares of 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 worth $34,000 after purchasing an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after purchasing an additional 900 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Bath & Body Works by 480.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after purchasing an additional 1,436 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Bath & Body Works by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after purchasing an additional 730 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BBWI. Wells Fargo & Company upped their price target on Bath & Body Works from $32.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, November 26th. TD Cowen upped their price target on Bath & Body Works from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Evercore ISI cut their price target 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. Citigroup cut their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Finally, Robert W. Baird cut their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Insider Buying and Selling

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average cost of $29.64 per share, for a total transaction 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. The trade was a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is owned by corporate insiders.

Bath & Body Works Trading Up 0.9 %

BBWI stock opened at $36.24 on Monday. The firm has a market cap of $7.85 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.36 and a beta of 1.79. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The business’s 50 day moving average is $31.19 and its 200-day moving average is $35.48.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.20 per share. The ex-dividend date 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 presently 19.51%.

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.