DnB Asset Management AS Grows Position in Bath & Body Works, Inc. (NYSE:BBWI)

DnB Asset Management AS increased its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 954,830 shares of the company's stock after buying an additional 149,453 shares during the quarter. DnB Asset Management AS owned about 0.44% of Bath & Body Works worth $37,019,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Bath & Body Works during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. increased its holdings in 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 buying an additional 329 shares in the last quarter. True Wealth Design LLC boosted its position in Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $34,000 after purchasing an additional 1,054 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 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 buying an additional 335 shares during the period. Finally, Lindbrook Capital LLC lifted its position in shares of Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock valued at $37,000 after buying an additional 431 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have weighed in on BBWI. Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Telsey Advisory Group reissued an "outperform" rating and issued a $43.00 price objective on shares of Bath & Body Works in a research note on Thursday, February 27th. JPMorgan Chase & Co. set a $47.00 target price on shares of Bath & Body Works in a report on Thursday, February 27th. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and increased their target price for the company from $40.00 to $48.00 in a research report on Friday, February 28th. Finally, Piper Sandler upped their price objective on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.06.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock traded up $0.18 during trading hours on Tuesday, hitting $30.50. The company's stock had a trading volume of 1,180,660 shares, compared to its average volume of 4,491,711. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a twelve month low of $26.21 and a twelve month high of $52.99. The firm has a fifty day moving average of $35.08 and a 200-day moving average of $34.15.

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 the consensus estimate 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. On average, sell-side analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Bath & Body Works declared that its Board of Directors has approved a stock buyback plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership 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.