Landscape Capital Management L.L.C. Purchases Shares of 50,488 Bath & Body Works, Inc. (NYSE:BBWI)

Landscape Capital Management L.L.C. purchased a new position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 50,488 shares of the company's stock, valued at approximately $1,957,000.

Several other large investors have also added to or reduced their stakes in BBWI. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bath & Body Works by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock valued at $2,046,000 after purchasing an additional 12,964 shares during the period. Wellington Management Group LLP purchased a new position in Bath & Body Works during the third quarter valued at $8,129,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bath & Body Works by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock valued at $66,088,000 after buying an additional 195,813 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Bath & Body Works in the 4th quarter worth about $1,350,000. Finally, iA Global Asset Management Inc. increased its stake in shares of Bath & Body Works by 1,078.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company's stock worth $1,575,000 after acquiring an additional 45,144 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock traded down $2.61 on Thursday, hitting $27.40. 2,259,304 shares of the company's stock were exchanged, compared to its average volume of 4,618,811. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $52.99. The stock has a market capitalization of $5.87 billion, a PE ratio of 6.71, a PEG ratio of 0.92 and a beta of 1.69. The company has a 50-day simple moving average of $33.44 and a 200-day simple moving average of $34.03.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion for 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, analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.92%. Bath & Body Works's payout ratio is 21.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $42.00 to $48.00 in a report on Friday, January 10th. TD Cowen upped their price target on Bath & Body Works from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Raymond James reiterated an "outperform" rating and set a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Citigroup cut their target price on Bath & Body Works from $48.00 to $36.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Piper Sandler raised Bath & Body Works from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $38.00 to $35.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.06.

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.