ExodusPoint Capital Management LP Purchases 74,951 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

ExodusPoint Capital Management LP raised its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 156.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 122,998 shares of the company's stock after buying an additional 74,951 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.06% of Bath & Body Works worth $4,769,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares 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. boosted its holdings in Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock worth $26,000 after buying an additional 329 shares in the last quarter. UMB Bank n.a. raised its position in shares of Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after purchasing an additional 335 shares during the period. Lindbrook Capital LLC raised its holdings 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 during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake 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.

Bath & Body Works Price Performance

Shares of BBWI stock traded down $1.08 during trading hours on Friday, reaching $26.54. 7,878,161 shares of the company were exchanged, compared to its average volume of 4,668,577. The stock's fifty day moving average is $32.99 and its two-hundred day moving average is $33.98. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a fifty-two week low of $24.96 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations 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, research analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works announced that its board has approved 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 buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Bath & Body Works Dividend Announcement

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 of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 3.01%. Bath & Body Works's dividend payout ratio is currently 21.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BBWI. Piper Sandler raised Bath & Body Works from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $38.00 to $35.00 in a research report on Wednesday. Telsey Advisory Group reiterated an "outperform" rating and issued a $43.00 target price on shares of Bath & Body Works in a research note on Thursday, February 27th. TD Cowen increased their price objective on Bath & Body Works from $42.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. set a $47.00 price target on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Robert W. Baird raised their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.06.

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.