Third Point LLC Amends Bath & Body Works Stake Filing

TL;DR

Loeb's Third Point filed an update on their Bath & Body Works stake - more to come.

AI Summary

Third Point LLC, managed by Daniel S. Loeb, has amended its Schedule 13D filing regarding Bath & Body Works, Inc. on October 25, 2024. The filing indicates a change in beneficial ownership, though specific new holdings or changes in percentage are not detailed in this excerpt. Third Point LLC previously held a significant stake and this amendment suggests ongoing activity or adjustments to their investment strategy.

Why It Matters

This amendment signals continued investor interest and potential strategic adjustments by a significant activist investor in Bath & Body Works, which could influence the company's future direction.

Risk Assessment

Risk Level: medium — Amendments to 13D filings often indicate shifts in activist investor strategy, which can lead to increased volatility and uncertainty for the company.

Key Players & Entities

• Third Point LLC (company) — Filing entity
• Daniel S. Loeb (person) — Manager of Third Point LLC
• Bath & Body Works, Inc. (company) — Subject company
• Joshua L. Targoff (person) — Representative for Third Point LLC

FAQ

Key Financial Figures

• $0.50 — o the shares of common stock, par value $0.50 per share ( Common Stock ), of Bath & B

Filing Documents

• d874148dsc13da.htm (SC 13D/A) — 58KB
• 0001193125-24-244316.txt ( ) — 60KB

Security and Issuer. This Amendment No. 3 to Schedule 13D (this Amendment

Item 1. Security and Issuer. This Amendment No. 3 to Schedule 13D (this Amendment No. 3 ) relates to the shares of common stock, par value $0.50 per share ( Common Stock ), of Bath & Body Works, Inc. (the Issuer ) and amends the Schedule 13D filed on December 8, 2022 (the Original Schedule 13D ), as amended by Amendment No. 1 to Schedule 13D filed on February 22, 2023, and Amendment No. 2 to Schedule 13D filed on March 6, 2023 (together, the Schedule 13D ). Capitalized terms used and not defined in this Amendment No. 3 have the meanings set forth in the Schedule 13D. This Amendment No. 3 is being filed to amend Item 5 and Item 7 as follows: Item 5. Interest in Securities of the Issuer. Items 5(a), 5(c) and 5(e) of the Schedule 13D are hereby amended and restated to read as follows: (a) As of 4:00 p.m., New York City time, on October 25, 2024, the Reporting Persons beneficially own an aggregate of 8,000,000 shares of Common Stock held by the Funds (such shares, the Shares ). The Shares represent approximately 3.65% of the Issuers Common Stock outstanding. The calculation of the percentage of Common Stock beneficially owned assumes 219,111,946 shares of Common Stock outstanding as reported in the Issuers Quarterly Report on Form 10-Q filed on August 28, 2024. (c) Set forth on Schedule A hereto are all transactions in the shares of Common Stock effected during the past sixty days by the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., New York City time, on October 25, 2024. (e) On October 23, 2024, as a result of the transactions reported in this Amendment No. 3, the Reporting Persons ceased to be the beneficial owners of more than five percent of the shares of Common Stock, and the Reporting Persons are no longer subject to the reporting requirements of Rule 13d-1(a) of the Exchange Act.

Material to Be Filed as

Item 7. Material to Be Filed as Exhibits. Item 7 of the Schedule 13D is hereby amended to include the following: Exhibit Number Description of Exhibits 4. Power of Attorney granted by Daniel S. Loeb in favor of Jana Tsilman and Joshua L. Targoff, dated February 9, 2024, which was previously filed with the SEC on February 13, 2024 as Exhibit 99.2 to the Schedule 13G/A filed by Third Point LLC and Daniel S. Loeb with respect to Global Blue Group Holding AG and is incorporated herein by reference. CUSIP No. 070830104 SCHEDULE 13D Page 5 of 7 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of its or his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: October 25, 2024 THIRD POINT LLC By: /s/ Jana Tsilman Name: Jana Tsilman Title: Attorney-in-Fact DANIEL S. LOEB By: /s/ Jana Tsilman Name: Jana Tsilman Title: Attorney-in-Fact CUSIP No. 070830104 SCHEDULE 13D Page 6 of 7 Pages SCHEDULE A This Schedule A sets forth information with respect to each purchase and sale of shares of Common Stock which was effectuated by a Reporting Person during the past sixty days, inclusive of any transactions effected through 4:00 p.m., New York City time, on October 25, 2024. Unless otherwise indicated, all transactions were effected in the open market through a broker. Date of Transaction Number of Shares Purchased (Sold) Price per Share ($) 8/30/2024 (2,600 ) 30.76 8/30/2024 2,600 30.76 9/27/2024 (99,264 ) 32.54 9/30/2024 (100,000 ) 32.00 10/10/2024 (285,000 ) 30.50 10/11/2024 (100,000 ) 31.10 10/14/2024 (30,000 ) 31.61 10/14/2024 (70,000 ) 31.63 10/15/2024 (100,000 ) 31.75 10/16/2024 (100,000 ) 32.00 10/23/2024 (500,000 ) 30.00 10/24/2024 (75,000 ) 30.08 10/24/2024 (500,000 ) 30.00 10/25/2024 (500,000 ) 30.00 10/25/2024 (1,525,000 ) 30.00 CUSIP No. 070830104 SCHEDULE 13D Page 7 of 7 Pages INDEX TO EXHIBITS Exhibit Number Description of Exhibits 1. Joint Filing Agreement, dated as of December 8, 2022, by and among the Reporting Persons.* 2. Power of Attorney granted by Daniel S. Loeb in favor of William Song and Joshua L. Targoff, dated February 17, 2021, which was previously filed with the SEC on March 5, 2021 as Exhibit 24 to the Form 4 filed by Third Point LLC and Daniel S. Loeb with respect to Radius Global Infrastructure Inc. and is incorporated herein by reference.* 3

View Full Filing

View this SC 13D/A filing on SEC EDGAR