Korea Investment CORP Has $7.67 Million Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Korea Investment CORP increased its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 182.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,886 shares of the company's stock after buying an additional 127,814 shares during the quarter. Korea Investment CORP owned about 0.09% of Bath & Body Works worth $7,672,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BBWI. Golden State Wealth Management LLC bought a new stake in shares of Bath & Body Works during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its stake in Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after acquiring an additional 329 shares in the last quarter. True Wealth Design LLC boosted its position in Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $34,000 after acquiring an additional 1,054 shares during the period. UMB Bank n.a. grew its stake in shares of Bath & Body Works by 58.8% in 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 in the last quarter. Finally, Lindbrook Capital LLC raised its stake 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 valued at $37,000 after purchasing an additional 431 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and increased their target price for the company from $40.00 to $48.00 in a research report on Friday, February 28th. Telsey Advisory Group reiterated an "outperform" rating and set a $43.00 price objective on shares of Bath & Body Works in a research note on Thursday, February 27th. JPMorgan Chase & Co. set a $47.00 target price on Bath & Body Works in a report on Thursday, February 27th. Argus reiterated a "hold" rating on shares of Bath & Body Works in a research report on Friday, January 10th. Finally, Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.06.

Bath & Body Works Stock Down 2.6 %

Shares of Bath & Body Works stock traded down $0.74 during midday trading on Friday, hitting $27.11. The company's stock had a trading volume of 9,960,931 shares, compared to its average volume of 4,570,199. Bath & Body Works, Inc. has a 1-year low of $25.41 and a 1-year high of $52.99. The firm has a market capitalization of $5.81 billion, a P/E ratio of 6.61, a PEG ratio of 0.92 and a beta of 1.69. The stock has a 50-day simple moving average of $34.45 and a 200-day simple moving average of $34.13.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced 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. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. As a group, sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Bath & Body Works declared that its board has approved a share 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 purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.