SCHEDULE: FMR LLC Discloses 10.4% Stake in Bath & Body Works

FMR LLC and Abigail P. Johnson have reported a combined beneficial ownership of 10.4% of Bath & Body Works Inc. common stock as of March 31, 2026.

Summary

• FMR LLC and Abigail P. Johnson, through various affiliated entities, collectively beneficially own 20,867,399.55 shares of Bath & Body Works Inc. common stock.
• This represents 10.4% of the class of securities outstanding as of March 31, 2026.
• FMR LLC is classified as a holding company (HC), and Abigail P. Johnson is classified as an investment company (IN).
• The filing is an amendment (Amendment No. 2) to a Schedule 13G.
• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It's a routine disclosure of beneficial ownership by a major investment firm and does not inherently signal positive or negative news about Bath & Body Works Inc. itself.

Positives

• FMR LLC and Abigail P. Johnson maintain a significant ownership stake, indicating confidence in the company's long-term value.
• The filing confirms that the shares are held in the ordinary course of business, suggesting a stable, non-activist investment approach.

Risks

• While not explicitly stated as risks in this filing, significant institutional ownership can sometimes lead to increased scrutiny and pressure on management to meet performance expectations.
• The filing does not provide details on the specific investment strategies or reasons for acquiring this stake, which could be a point of interest for other investors.

Future Outlook

This filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding future performance of Bath & Body Works Inc.

Management Comments

• FMR LLC and Abigail P. Johnson certify that the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

Industry Context

StockSavvy.ai notes that this Schedule 13G filing by FMR LLC and Abigail P. Johnson indicates a significant institutional holding in the retail sector, specifically within the beauty and personal care segment. Such filings are common for large asset managers and signal substantial investment positions that can influence market perception and company strategy.

Stakeholder Impact

• Shareholders: The significant stake held by FMR LLC and Abigail P. Johnson may provide a degree of stability to the stock price, but also indicates a large holder whose future actions (buying or selling) could impact the price.
• Management of Bath & Body Works Inc.: The substantial ownership by a major investment firm may lead to increased engagement and expectations for performance and strategic decisions.
• Other Investors: This filing provides transparency on a major shareholder, allowing other investors to assess the ownership landscape.

Next Steps

• Continued monitoring of FMR LLC's ownership levels in Bath & Body Works Inc. for any changes.
• Analysis of Bath & Body Works Inc.'s future performance to understand the rationale behind FMR LLC's investment.

Key Dates

Keywords

Bath & Body Works, FMR LLC, Abigail P. Johnson, Schedule 13G, SEC Filing, Beneficial Ownership, Common Stock, Investment Company, Holding Company, Institutional Investor