Hsbc Holdings PLC Sells 55,162 Shares of Bath & Body Works, Inc. $BBWI

Hsbc Holdings PLC reduced its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 11.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 415,316 shares of the company’s stock after selling 55,162 shares during the period. Hsbc Holdings PLC owned 0.20% of Bath & Body Works worth $12,387,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Bath & Body Works during the 2nd quarter worth about $1,545,000. State Board of Administration of Florida Retirement System lifted its position in Bath & Body Works by 1.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 224,391 shares of the company’s stock worth $6,723,000 after acquiring an additional 2,280 shares during the last quarter. Vinva Investment Management Ltd lifted its position in Bath & Body Works by 201.1% during the second quarter. Vinva Investment Management Ltd now owns 14,705 shares of the company’s stock worth $441,000 after acquiring an additional 9,821 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Bath & Body Works by 38.8% in the second quarter. Russell Investments Group Ltd. now owns 266,325 shares of the company’s stock valued at $7,979,000 after purchasing an additional 74,409 shares during the last quarter. Finally, Boston Partners grew its position in shares of Bath & Body Works by 25.9% in the second quarter. Boston Partners now owns 1,179,631 shares of the company’s stock valued at $35,245,000 after purchasing an additional 242,607 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insiders Place Their Bets

In other Bath & Body Works news, Director Stephen D. Steinour bought 6,700 shares of Bath & Body Works stock in a transaction on Friday, November 21st. The shares were purchased at an average price of $14.86 per share, with a total value of $99,562.00. Following the acquisition, the director owned 48,175 shares in the company, valued at $715,880.50. This trade represents a 16.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Francis Hondal purchased 3,343 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average price of $14.99 per share, for a total transaction of $50,111.57. Following the purchase, the director owned 21,554 shares in the company, valued at approximately $323,094.46. The trade was a 18.36% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 33,513 shares of company stock valued at $500,442 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Bath & Body Works Stock Up 2.2%

BBWI opened at $19.01 on Thursday. Bath & Body Works, Inc. has a twelve month low of $14.27 and a twelve month high of $41.87. The company has a 50-day simple moving average of $23.23 and a 200 day simple moving average of $27.29. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 5.85, a P/E/G ratio of 0.70 and a beta of 1.51.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Thursday, November 20th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.64 billion. Bath & Body Works had a net margin of 9.50% and a negative return on equity of 47.35%. Bath & Body Works’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. Bath & Body Works has set its FY 2025 guidance at 2.870- EPS and its Q4 2025 guidance at 1.700- EPS. Sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, November 21st. Bath & Body Works’s payout ratio is currently 24.62%.

Analysts Set New Price Targets

Several analysts recently weighed in on BBWI shares. Zacks Research cut Bath & Body Works from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. The Goldman Sachs Group cut Bath & Body Works from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $39.00 to $17.00 in a research report on Thursday, November 20th. Jefferies Financial Group dropped their target price on Bath & Body Works from $32.00 to $28.50 and set a “hold” rating for the company in a report on Monday, October 13th. Wall Street Zen downgraded shares of Bath & Body Works from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Bath & Body Works in a research report on Wednesday, November 12th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Bath & Body Works currently has an average rating of “Hold” and an average target price of $25.17.

Bath & Body Works Company 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.