Bath & Body Works, Inc. (NYSE:BBWI) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 79.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,882,047 shares of the company's stock after purchasing an additional 1,715,096 shares during the period. Arrowstreet Capital Limited Partnership owned 1.79% of Bath & Body Works worth $150,507,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fifth Third Wealth Advisors LLC lifted its stake in Bath & Body Works by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company's stock valued at $271,000 after buying an additional 324 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of 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 in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Bath & Body Works by 24.2% during the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company's stock valued at $54,000 after acquiring an additional 331 shares during the last quarter. UMB Bank n.a. increased its position in Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after purchasing an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock valued at $37,000 after purchasing an additional 431 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts have issued reports on BBWI shares. Robert W. Baird raised their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. TD Cowen raised their target price on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Wells Fargo & Company upgraded Bath & Body Works from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $42.00 to $48.00 in a report on Friday, January 10th. Citigroup upgraded Bath & Body Works from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $40.00 to $48.00 in a report on Friday, February 28th. Finally, Raymond James reiterated an "outperform" rating and issued a $46.00 target price (up from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $45.06.

Bath & Body Works Stock Down 2.6 %

Shares of NYSE BBWI traded down $0.74 on Friday, hitting $27.11. The company had a trading volume of 9,960,931 shares, compared to its average volume of 4,573,458. Bath & Body Works, Inc. has a 12-month low of $25.41 and a 12-month high of $52.99. The firm has a market capitalization of $5.81 billion, a P/E ratio of 6.61, a PEG ratio of 0.92 and a beta of 1.89. The business has a 50 day moving average of $34.45 and a two-hundred day moving average of $34.10.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued 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. On average, sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The company also recently declared 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 of this dividend was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. Bath & Body Works's dividend payout ratio (DPR) is 21.98%.

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.