Charles Schwab Investment Management Inc. Has $66.09 Million Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Charles Schwab Investment Management Inc. increased its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,704,625 shares of the company's stock after acquiring an additional 195,813 shares during the period. Charles Schwab Investment Management Inc. owned about 0.79% of Bath & Body Works worth $66,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBWI. Amalgamated Bank increased its stake in Bath & Body Works by 5.3% in the 3rd quarter. Amalgamated Bank now owns 70,060 shares of the company's stock valued at $2,236,000 after buying an additional 3,553 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Bath & Body Works by 328.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company's stock valued at $34,153,000 after purchasing an additional 820,379 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Bath & Body Works by 404.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company's stock valued at $4,295,000 after purchasing an additional 107,868 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in shares of Bath & Body Works in the 3rd quarter valued at approximately $15,169,000. Finally, Aigen Investment Management LP acquired a new position in shares of Bath & Body Works in the 3rd quarter valued at approximately $368,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

NYSE BBWI opened at $29.75 on Wednesday. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The company has a 50-day simple moving average of $36.91 and a 200 day simple moving average of $34.10. The company has a market capitalization of $6.44 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89.

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Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.05. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works declared that its board has approved a share repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase 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.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given 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 2.69%. Bath & Body Works's dividend payout ratio (DPR) is currently 21.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $40.00 to $48.00 in a research report on Friday, February 28th. Barclays decreased their price target on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. Raymond James reaffirmed an "outperform" rating and issued a $46.00 price objective (up from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. TD Cowen increased 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 note on Thursday, December 12th. Finally, Robert W. Baird increased their target price 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. Five research 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.

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