Kentucky Retirement Systems Sells 1,304 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Kentucky Retirement Systems reduced its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 7.7% in the third quarter, Holdings Channel.com reports. The fund owned 15,551 shares of the company’s stock after selling 1,304 shares during the period. Kentucky Retirement Systems’ holdings in Bath & Body Works were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. First Community Trust NA bought a new position in shares of Bath & Body Works in the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after buying an additional 900 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Bath & Body Works by 65.4% in the second quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after buying an additional 730 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of Bath & Body Works by 224.0% in the first quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock worth $74,000 after buying an additional 1,017 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Bath & Body Works in the third quarter worth $103,000. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Trading Down 3.2 %

BBWI opened at $30.45 on Wednesday. The company has a market cap of $6.67 billion, a P/E ratio of 7.37, a P/E/G ratio of 1.00 and a beta of 1.79. The business’s 50-day moving average price is $30.34 and its 200-day moving average price is $36.18. 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 posted its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. 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 announced a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 2.63%. Bath & Body Works’s payout ratio is presently 19.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Robert W. Baird lowered their price objective 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. Bank of America lowered their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. lowered their price target on 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. Citigroup lowered their price target 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. Finally, Telsey Advisory Group restated an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and an average target price of $42.44.

Insider Buying and Selling

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought 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 directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is owned by insiders.

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.