First Trust Advisors LP Acquires 274,876 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

First Trust Advisors LP raised its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 99.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 550,759 shares of the company's stock after acquiring an additional 274,876 shares during the period. First Trust Advisors LP owned approximately 0.25% of Bath & Body Works worth $21,353,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fifth Third Wealth Advisors LLC grew its position in shares of Bath & Body Works by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company's stock worth $271,000 after buying an additional 324 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of 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 purchasing an additional 329 shares in the last quarter. UMB Bank n.a. increased its position in shares of Bath & Body Works by 58.8% in the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock valued at $35,000 after buying an additional 335 shares in the last quarter. Lindbrook Capital LLC raised 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 during the period. Finally, Cornerstone Investment Partners LLC lifted its holdings in Bath & Body Works by 3.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 12,248 shares of the company's stock worth $475,000 after acquiring an additional 452 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Trading Down 0.5 %

Shares of NYSE BBWI opened at $29.61 on Friday. The company has a market capitalization of $6.34 billion, a P/E ratio of 7.22, a P/E/G 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. The stock has a 50 day moving average of $31.33 and a 200-day moving average of $33.84.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping 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%. Analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.70%. Bath & Body Works's dividend payout ratio (DPR) is currently 21.98%.

Bath & Body Works declared that its Board of Directors has approved a share repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Argus restated a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Cowen restated a "buy" rating on shares of Bath & Body Works in a report on Thursday, February 27th. Robert W. Baird upped their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Piper Sandler raised 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 report on Wednesday, April 9th. Finally, Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $42.00 to $48.00 in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Bath & Body Works has an average rating of "Moderate Buy" and a consensus target price of $42.69.

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.

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