AlphaQuest LLC Has $33,000 Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

AlphaQuest LLC lessened its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 97.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 846 shares of the company's stock after selling 32,410 shares during the period. AlphaQuest LLC's holdings in Bath & Body Works were worth $33,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in Bath & Body Works during the third quarter worth about $8,129,000. Forest Avenue Capital Management LP increased its position in Bath & Body Works by 19.1% in the third quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company's stock worth $46,851,000 after buying an additional 235,173 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock valued at $66,088,000 after buying an additional 195,813 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of Bath & Body Works by 1,078.2% during the third quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company's stock valued at $1,575,000 after acquiring an additional 45,144 shares during the period. Finally, Weiss Asset Management LP grew its position in shares of Bath & Body Works by 29.0% during the third quarter. Weiss Asset Management LP now owns 377,969 shares of the company's stock worth $12,065,000 after acquiring an additional 84,873 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

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Bath & Body Works Stock Performance

NYSE:BBWI traded down $0.23 during trading hours on Tuesday, hitting $32.19. 4,755,656 shares of the company's stock traded hands, compared to its average volume of 4,260,480. Bath & Body Works, Inc. has a twelve month low of $26.21 and a twelve month high of $52.99. The firm has a market cap of $6.90 billion, a P/E ratio of 7.85, a P/E/G ratio of 0.92 and a beta of 1.89. The stock's fifty day moving average price is $35.62 and its two-hundred day moving average price is $34.01.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. On average, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid 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 2.49%. Bath & Body Works's payout ratio is presently 21.98%.

Bath & Body Works announced that its board has initiated a share buyback plan on Thursday, February 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on BBWI. Telsey Advisory Group reissued an "outperform" rating and set a $43.00 target price on shares of Bath & Body Works in a research note on Thursday, February 27th. Argus reissued a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Robert W. Baird raised their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Piper Sandler lifted their price target on Bath & Body Works from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Bath & Body Works from $51.00 to $52.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Bath & Body Works currently has a consensus rating of "Moderate Buy" and an average 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.