Impax Asset Management Group plc Sells 5,875 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Impax Asset Management Group plc lowered its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,062 shares of the company’s stock after selling 5,875 shares during the period. Impax Asset Management Group plc’s holdings in Bath & Body Works were worth $5,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Bath & Body Works by 1.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 527,415 shares of the company’s stock worth $26,381,000 after acquiring an additional 5,738 shares during the last quarter. Norden Group LLC bought a new position in shares of Bath & Body Works in the first quarter worth approximately $215,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Bath & Body Works by 69.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,011 shares of the company’s stock valued at $2,502,000 after purchasing an additional 20,436 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Bath & Body Works during the first quarter valued at approximately $203,000. Finally, Daiwa Securities Group Inc. grew its stake in Bath & Body Works by 10.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 21,411 shares of the company’s stock worth $1,071,000 after buying an additional 1,946 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on BBWI shares. JPMorgan Chase & Co. lowered their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Robert W. Baird lowered their price target 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. UBS Group cut their price objective on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Telsey Advisory Group reissued an “outperform” rating and set a $42.00 price objective on shares of Bath & Body Works in a report on Thursday, September 26th. Finally, Evercore ISI cut their target price on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research note on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.13.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $31.62 on Wednesday. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The company’s 50 day moving average price is $30.08 and its 200-day moving average price is $37.25. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 0.92 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates 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, equities research analysts forecast that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s payout ratio is 19.37%.

Insiders Place Their Bets

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of Bath & Body Works 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 completion of the purchase, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Bath & Body Works 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.