Kennedy Capital Management LLC bought a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 110,240 shares of the company's stock, valued at approximately $4,274,000. Kennedy Capital Management LLC owned approximately 0.05% of Bath & Body Works at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. F M Investments LLC increased its stake in Bath & Body Works by 57.4% in the fourth quarter. F M Investments LLC now owns 41,546 shares of the company's stock valued at $1,611,000 after purchasing an additional 15,151 shares during the period. Bessemer Group Inc. boosted its stake in shares of Bath & Body Works by 470.9% during the 4th quarter. Bessemer Group Inc. now owns 17,942 shares of the company's stock worth $696,000 after acquiring an additional 14,799 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Bath & Body Works in the fourth quarter valued at $26,491,000. Applied Finance Capital Management LLC purchased a new position in Bath & Body Works during the 4th quarter valued at about $212,000. Finally, Bank of Nova Scotia increased its stake in shares of Bath & Body Works by 30.0% during the 4th quarter. Bank of Nova Scotia now owns 37,138 shares of the company's stock worth $1,440,000 after purchasing an additional 8,578 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on BBWI shares. JPMorgan Chase & Co. dropped their price objective on Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday. Barclays reduced their target price on Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Raymond James decreased their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday. 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. Finally, Citigroup reduced their price target on Bath & Body Works from $48.00 to $36.00 and set a "buy" rating for the company in a report on Monday, April 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.13.
View Our Latest Analysis on Bath & Body Works
Bath & Body Works Stock Up 3.4 %
BBWI stock traded up $0.92 during mid-day trading on Friday, reaching $28.42. The company had a trading volume of 4,852,461 shares, compared to its average volume of 4,727,089. The stock has a market capitalization of $6.09 billion, a P/E ratio of 6.93, a P/E/G ratio of 0.92 and a beta of 1.69. The stock's 50-day simple moving average is $32.29 and its two-hundred day simple moving average is $33.86. Bath & Body Works, Inc. has a one year low of $24.96 and a one year high of $52.99.
Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.05. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. On average, research analysts forecast 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. Shareholders 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 dividend on an annualized basis and a yield of 2.81%. Bath & Body Works's dividend payout ratio (DPR) is 21.98%.
Bath & Body Works declared that its board has authorized a stock buyback plan on Thursday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.
About Bath & Body Works
(
Free Report)
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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