Bath & Body Works, Inc. (NYSE:BBWI) Position Decreased by GMT Capital Corp

GMT Capital Corp lowered its position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,482,100 shares of the company's stock after selling 390,900 shares during the quarter. Bath & Body Works makes up about 6.6% of GMT Capital Corp's holdings, making the stock its 3rd biggest holding. GMT Capital Corp owned about 1.61% of Bath & Body Works worth $135,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Bath & Body Works in the fourth quarter valued at $73,572,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Bath & Body Works by 79.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock valued at $150,507,000 after acquiring an additional 1,715,096 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock worth $200,768,000 after acquiring an additional 1,360,264 shares in the last quarter. Anomaly Capital Management LP raised its position in shares of Bath & Body Works by 38.3% during the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock worth $188,456,000 after acquiring an additional 1,346,752 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new stake in Bath & Body Works during the fourth quarter worth approximately $37,853,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBWI. Citigroup cut their price objective on shares of Bath & Body Works from $48.00 to $36.00 and set a "buy" rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group cut their price target on shares of Bath & Body Works from $49.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday. Raymond James reduced their price target on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Piper Sandler raised Bath & Body Works from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $38.00 to $35.00 in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Bath & Body Works presently has a consensus rating of "Moderate Buy" and an average target price of $42.69.

Bath & Body Works Stock Performance

Shares of BBWI opened at $28.77 on Wednesday. The stock has a market capitalization of $6.16 billion, a P/E ratio of 7.02, a P/E/G ratio of 0.92 and a beta of 1.69. The company's fifty day moving average is $31.83 and its two-hundred day moving average is $33.85. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping 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 firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.78%. The ex-dividend date 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 authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Bath & Body Works 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.

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