Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 71.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,259 shares of the company's stock after selling 134,587 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Bath & Body Works were worth $2,046,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Bath & Body Works in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. raised its holdings in shares of Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after purchasing an additional 329 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock valued at $35,000 after buying an additional 335 shares during the period. Lindbrook Capital LLC boosted its position in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after purchasing an additional 431 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 95.14% of the company's stock.
Bath & Body Works Price Performance
Shares of BBWI traded down $0.74 during midday trading on Friday, reaching $27.11. 9,960,931 shares of the stock were exchanged, compared to its average volume of 4,573,458. Bath & Body Works, Inc. has a twelve month low of $25.41 and a twelve month high of $52.99. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 6.61, a PEG ratio of 0.92 and a beta of 1.69. The business's 50-day moving average price is $34.45 and its 200 day moving average price is $34.10.
Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $2.78 billion. As a group, equities research analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.
Bath & Body Works declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.
Bath & Body Works Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 dividend yield of 2.95%. Bath & Body Works's dividend payout ratio (DPR) is 21.98%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of 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. Raymond James reiterated an "outperform" rating and set a $46.00 target price (up from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Argus reaffirmed a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Citigroup upgraded Bath & Body Works from a "neutral" rating to a "buy" rating and raised their price target for the stock from $40.00 to $48.00 in a research report on Friday, February 28th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $43.00 price target on shares of Bath & Body Works in a report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.06.
Read Our Latest Research Report on BBWI
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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