Alpine Global Management LLC Acquires New Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Alpine Global Management LLC acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,850 shares of the company's stock, valued at approximately $576,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in Bath & Body Works during the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its holdings in Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after acquiring an additional 329 shares during the last quarter. UMB Bank n.a. grew its position in Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock valued at $35,000 after acquiring an additional 335 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after purchasing an additional 431 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Bath & Body Works during the 3rd quarter worth about $39,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Telsey Advisory Group reiterated an "outperform" rating and set a $43.00 price objective on shares of Bath & Body Works in a research note on Thursday, February 27th. Cowen reiterated a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Raymond James reduced their target price on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Argus reaffirmed a "hold" rating on shares of Bath & Body Works in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $42.69.

Bath & Body Works Stock Up 3.3 %

Shares of BBWI stock opened at $29.70 on Friday. The company has a market cap of $6.36 billion, a P/E ratio of 7.24, a PEG ratio of 0.92 and a beta of 1.69. The business has a 50 day moving average of $31.54 and a two-hundred day moving average of $33.81. Bath & Body Works, Inc. has a 52 week low of $24.96 and a 52 week high of $52.99.

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 analysts' consensus estimates of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's payout ratio is 21.98%.

Bath & Body Works announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

About Bath & Body Works

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.