KLP Kapitalforvaltning AS Buys New Stake in Bath & Body Works, Inc. (NYSE:BBWI)

KLP Kapitalforvaltning AS acquired a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 42,500 shares of the company's stock, valued at approximately $1,648,000.

A number of other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in Bath & Body Works during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted 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 in the last quarter. True Wealth Design LLC boosted its position in Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $34,000 after buying an additional 1,054 shares during the last quarter. UMB Bank n.a. grew its stake 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 valued at $35,000 after acquiring an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after acquiring an additional 431 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock traded up $1.22 on Wednesday, reaching $31.85. 4,262,829 shares of the company were exchanged, compared to its average volume of 4,522,168. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 7.77, a P/E/G ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a 1-year low of $26.21 and a 1-year high of $52.99. The company's 50-day moving average is $34.84 and its two-hundred day moving average is $34.16.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued 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 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%. As a group, sell-side analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its board has approved a stock repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.51%. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BBWI shares. Piper Sandler increased their price target on Bath & Body Works from $36.00 to $39.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Raymond James reissued an "outperform" rating and set a $46.00 price target (up previously from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. TD Cowen upped their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $42.00 to $48.00 in a research note on Friday, January 10th. Finally, Cowen reissued a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $45.06.

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.