Dynamic Technology Lab Private Ltd Invests $2.63 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Dynamic Technology Lab Private Ltd purchased a new position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 67,809 shares of the company's stock, valued at approximately $2,629,000. Bath & Body Works comprises about 0.4% of Dynamic Technology Lab Private Ltd's holdings, making the stock its 15th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Bath & Body Works during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after purchasing an additional 329 shares during the last quarter. UMB Bank n.a. boosted its stake in Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock valued at $35,000 after purchasing an additional 335 shares during the period. Lindbrook Capital LLC grew its position in Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after purchasing an additional 431 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Bath & Body Works in the third quarter valued at approximately $39,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBWI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. set a $47.00 price objective on Bath & Body Works in a report on Thursday, February 27th. Wells Fargo & Company raised Bath & Body Works from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $42.00 to $48.00 in a report on Friday, January 10th. Argus reaffirmed a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Raymond James reissued an "outperform" rating and set a $46.00 target price (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Finally, Piper Sandler raised shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $38.00 to $35.00 in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.06.

Bath & Body Works Stock Performance

BBWI traded down $2.74 during trading on Thursday, reaching $27.28. The company had a trading volume of 2,530,753 shares, compared to its average volume of 4,619,818. The firm's 50-day simple moving average is $33.44 and its 200 day simple moving average is $34.03. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a 12-month low of $24.96 and a 12-month high of $52.99.

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, beating analysts' consensus estimates 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 business 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 EPS for the current year.

Bath & Body Works announced that its board has initiated a share repurchase program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.93%. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

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.