Bath & Body Works, Inc. (NYSE:BBWI) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 168,736 shares of the company's stock after acquiring an additional 30,042 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Bath & Body Works worth $6,542,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of Bath & Body Works during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. boosted its holdings in Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock worth $26,000 after buying an additional 329 shares during the last quarter. UMB Bank n.a. boosted its holdings in Bath & Body Works by 58.8% in 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 last quarter. Lindbrook Capital LLC increased its stake in Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after buying an additional 431 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bath & Body Works during the third quarter valued at approximately $39,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

BBWI remained flat at $28.75 on Wednesday. 5,208,819 shares of the company traded hands, compared to its average volume of 4,754,945. The stock's 50-day simple moving average is $31.83 and its two-hundred day simple moving average is $33.85. Bath & Body Works, Inc. has a 12-month low of $24.96 and a 12-month high of $52.99. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 7.01, a P/E/G ratio of 0.92 and a beta of 1.69.

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. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. On average, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

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 stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Bath & Body Works Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.78%. Bath & Body Works's dividend payout ratio is currently 21.98%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BBWI shares. Piper Sandler raised Bath & Body Works from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $38.00 to $35.00 in a research note on Wednesday, April 9th. Argus reiterated a "hold" rating on shares of Bath & Body Works in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered their price target on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Barclays decreased their target price on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Finally, Raymond James dropped their price target on Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Bath & Body Works presently has an average rating of "Moderate Buy" and an average target price of $42.69.

About Bath & Body Works

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.