Nomura Asset Management Co. Ltd. Sells 135,058 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Nomura Asset Management Co. Ltd. trimmed its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 98.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,552 shares of the company’s stock after selling 135,058 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Bath & Body Works were worth $99,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Bath & Body Works in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. grew its holdings in shares of Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after acquiring an additional 329 shares during the period. UMB Bank n.a. increased its position in Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after acquiring an additional 335 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after acquiring an additional 431 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bath & Body Works in the third quarter worth about $39,000. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 12.5 %

NYSE:BBWI opened at $27.81 on Friday. The stock has a 50-day moving average price of $34.65 and a 200 day moving average price of $34.11. Bath & Body Works, Inc. has a 12-month low of $26.21 and a 12-month high of $52.99. The stock has a market capitalization of $5.96 billion, a P/E ratio of 6.78, a P/E/G ratio of 0.92 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. On average, research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its Board of Directors has authorized a share buyback plan on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s payout ratio is currently 21.98%.

Analysts Set New Price Targets

BBWI has been the subject of several research reports. Raymond James reaffirmed an “outperform” rating and set a $46.00 price target (up previously from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Piper Sandler upped their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Argus reiterated a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Cowen reissued a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and an average price target of $45.06.

Bath & Body Works Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.