Cinctive Capital Management LP Acquires 30,470 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Cinctive Capital Management LP lifted its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 21.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,786 shares of the company's stock after acquiring an additional 30,470 shares during the quarter. Cinctive Capital Management LP owned approximately 0.08% of Bath & Body Works worth $6,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BBWI. Cerity Partners LLC grew its holdings in Bath & Body Works by 227.2% during the 3rd quarter. Cerity Partners LLC now owns 25,093 shares of the company's stock worth $801,000 after acquiring an additional 17,423 shares during the last quarter. FMR LLC grew its stake in shares of Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company's stock valued at $80,315,000 after purchasing an additional 2,501,828 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Bath & Body Works by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,158,390 shares of the company's stock worth $36,976,000 after purchasing an additional 40,868 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Bath & Body Works by 57.2% during the 3rd quarter. Captrust Financial Advisors now owns 16,059 shares of the company's stock worth $513,000 after buying an additional 5,842 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in Bath & Body Works in the 3rd quarter valued at $6,770,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BBWI. Wells Fargo & Company upgraded Bath & Body Works from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and upped their target price for the company from $40.00 to $48.00 in a research report on Friday, February 28th. Piper Sandler lifted their price target on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Cowen reissued a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Finally, Robert W. Baird raised their price objective 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. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Bath & Body Works has a consensus rating of "Moderate Buy" and a consensus price target of $45.06.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock traded down $0.74 during trading hours on Friday, hitting $27.11. The company's stock had a trading volume of 9,960,931 shares, compared to its average volume of 4,573,458. The company has a market capitalization of $5.81 billion, a PE ratio of 6.61, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. The stock has a 50 day moving average of $34.45 and a 200 day moving average of $34.10. Bath & Body Works, Inc. has a 12 month low of $25.41 and a 12 month high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $2.78 billion. Equities analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.95%. Bath & Body Works's dividend payout ratio is currently 21.98%.

Bath & Body Works announced that its board has initiated a stock buyback 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors 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.