[SCHEDULE 13G/A] Bath & Body Works, Inc. SEC Filing

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. reports beneficial ownership of 1,202,931 shares of Bath & Body Works common stock, equal to 0.6% of the class. The filing states that these shares are held with sole voting and sole dispositive power, with no shared voting or dispositive authority.

The filer is identified as an investment adviser and certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. This Schedule 13G/A constitutes an ownership disclosure rather than a control or activist filing.

Positive

• 1,202,931 shares disclosed representing 0.6% of the class, providing transparency about institutional holdings
• Holder reports sole voting and dispositive power, clarifying who controls voting on these shares
• Certification of ordinary-course holding explicitly states the stake is not intended to change or influence control

Negative

• None.

Insights

Financial Analyst

TL;DR Routine disclosure: a modest passive stake under 5% with sole voting/dispositive power; not material to control.

T. Rowe Price reports ownership of 1,202,931 shares, representing 0.6% of Bath & Body Works common stock. For most investors this size of holding is immaterial to corporate control and unlikely to affect near-term valuation or strategy. The filing specifies sole voting and dispositive power, which clarifies decision authority over these shares. Given the Schedule 13G/A format and the certification that holdings are in the ordinary course and not intended to influence control, this is a standard regulatory disclosure by an investment adviser.

Corporate Governance Expert

TL;DR Governance implications minimal: ownership is disclosed as passive and below material thresholds; no signs of coordinated group action.

The filing identifies the reporting person as an investment adviser and includes an explicit certification that the securities are not held to influence control. Sole voting and dispositive power are reported, which matters for proxy voting clarity but does not indicate activist intent. There is no group affiliation or shared power reported, and the stake is well below 5%, so material governance influence is unlikely based on this disclosure alone.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

BATH & BODY WORKS INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

070830104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 070830104

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,202,931.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,202,931.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,202,931.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BATH & BODY WORKS INC
(b)	Address of issuer's principal executive offices: THREE LIMITED PKWY, P O BOX 16000, COLUMBUS, OH, 43230
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 070830104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1202931
(b)	Percent of class: 0.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1202931
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1202931
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	08/14/2025

FAQ

What stake does T. Rowe Price hold in Bath & Body Works (BBWI)?

T. Rowe Price Investment Management reports beneficial ownership of 1,202,931 shares, representing 0.6% of BBWI common stock.

Does T. Rowe Price have voting power over the BBWI shares it holds?

Yes. The filing reports sole voting power and sole dispositive power for all 1,202,931 shares, with zero shared voting or dispositive power.

Is this filing a Schedule 13G/A and what does that indicate?

Yes. This is an amended Schedule 13G/A filed by an investment adviser (reported as type "IA"), indicating a passive investor disclosure rather than an active control filing.

Does the filer state any intent to influence control of Bath & Body Works?

No. The filing includes a certification that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Who signed the Schedule 13G/A for T. Rowe Price?

The filing is signed by Ellen York, listed as Vice President of T. Rowe Price Investment Management, Inc.