PNC Financial Services Group Inc. Has $2.68 Million Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

PNC Financial Services Group Inc. decreased its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,798 shares of the company’s stock after selling 4,269 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bath & Body Works were worth $2,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Anomaly Capital Management LP acquired a new stake in shares of Bath & Body Works during the 2nd quarter valued at $113,995,000. KBC Group NV lifted its holdings in Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after buying an additional 1,683,160 shares during the period. Lone Pine Capital LLC boosted its position in Bath & Body Works by 15.8% during the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after acquiring an additional 1,547,399 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Bath & Body Works by 723.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock worth $37,268,000 after acquiring an additional 1,025,757 shares during the period. 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 acquiring an additional 892,488 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Insider Transactions at Bath & Body Works

In related news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was purchased at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Bath & Body Works Stock Up 16.5 %

Shares of BBWI stock opened at $35.78 on Tuesday. The firm has a market cap of $7.84 billion, a P/E ratio of 8.66, a PEG ratio of 0.98 and a beta of 1.79. The company has a 50 day moving average of $30.69 and a 200-day moving average of $35.74. 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 released its 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 during the quarter, compared to the consensus estimate of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. As a group, equities analysts expect that Bath & Body Works, Inc. will post 3.18 EPS for the current year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.24%. Bath & Body Works’s payout ratio is 19.37%.

Analyst Upgrades and Downgrades

BBWI has been the topic of several research analyst reports. Telsey Advisory Group restated an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a research report on Monday. The Goldman Sachs Group reduced their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. BMO Capital Markets reiterated an “outperform” rating and set a $50.00 target price (down previously from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. JPMorgan Chase & Co. reduced their price target on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, Citigroup decreased their price target on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.25.

About Bath & Body Works

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.