Keybank National Association OH Invests $427,000 in Bath & Body Works, Inc. (NYSE:BBWI)

Keybank National Association OH purchased a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,011 shares of the company's stock, valued at approximately $427,000.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Investment Partners LLC boosted its stake in Bath & Body Works by 3.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 12,248 shares of the company's stock worth $475,000 after buying an additional 452 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bath & Body Works by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock worth $66,088,000 after acquiring an additional 195,813 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Bath & Body Works by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,216 shares of the company's stock worth $163,000 after purchasing an additional 615 shares during the period. Sage Rhino Capital LLC acquired a new stake in Bath & Body Works in the 4th quarter valued at approximately $345,000. Finally, Jones Financial Companies Lllp raised its position in Bath & Body Works by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 38,101 shares of the company's stock valued at $1,477,000 after purchasing an additional 11,886 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock traded down $0.95 during trading hours on Thursday, hitting $28.34. The company had a trading volume of 4,308,544 shares, compared to its average volume of 4,039,664. The company's 50-day moving average is $36.72 and its two-hundred day moving average is $34.07. The company has a market cap of $6.14 billion, a P/E ratio of 6.91, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a twelve month low of $26.20 and a twelve month high of $52.99.

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Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Sell-side analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.82%. Bath & Body Works's payout ratio is 21.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BBWI shares. Piper Sandler raised their price target on Bath & Body Works from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Robert W. Baird lifted their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Morgan Stanley reduced their price target on shares of Bath & Body Works from $51.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $43.00 target price on shares of Bath & Body Works in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.06.

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.