Massachusetts Financial Services Co. MA Acquires 87,896 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 160.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,605 shares of the company's stock after acquiring an additional 87,896 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.07% of Bath & Body Works worth $5,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors grew its stake in shares of Bath & Body Works by 57.2% in the 3rd quarter. Captrust Financial Advisors now owns 16,059 shares of the company's stock worth $513,000 after acquiring an additional 5,842 shares in the last quarter. Quantinno Capital Management LP grew its position in Bath & Body Works by 31.2% in the 3rd quarter. Quantinno Capital Management LP now owns 56,661 shares of the company's stock worth $1,809,000 after purchasing an additional 13,485 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Bath & Body Works in the 3rd quarter valued at about $8,129,000. iA Global Asset Management Inc. lifted its position in shares of Bath & Body Works by 1,078.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company's stock worth $1,575,000 after buying an additional 45,144 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Bath & Body Works by 30.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 137,610 shares of the company's stock worth $4,393,000 after buying an additional 32,233 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Stock Performance

BBWI stock traded down $1.08 during midday trading on Friday, reaching $26.54. 7,878,161 shares of the company's stock traded hands, compared to its average volume of 4,668,577. The firm has a market capitalization of $5.69 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. The company has a 50-day moving average price of $32.99 and a two-hundred day moving average price of $33.98. Bath & Body Works, Inc. has a 52 week low of $24.96 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (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 business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. As a group, analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

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

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors 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 annualized dividend and a yield of 3.01%. Bath & Body Works's dividend payout ratio is currently 21.98%.

Analysts Set New Price Targets

A number of analysts recently commented on BBWI shares. Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Barclays reduced their price objective on Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company upgraded Bath & Body Works from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $42.00 to $48.00 in a research note on Friday, January 10th. Argus reissued a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Finally, Citigroup decreased their price objective on shares of 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 analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $44.06.

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.