Nomura Asset Management Co. Ltd. cut its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 98.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,552 shares of the company's stock after selling 135,058 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Bath & Body Works were worth $99,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. 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 worth $26,000 after acquiring an additional 329 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Bath & Body Works during the 4th quarter valued at $26,000. UMB Bank n.a. lifted its stake 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 in the last quarter. Lindbrook Capital LLC boosted its holdings in Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after buying an additional 431 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Bath & Body Works by 135.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock worth $39,000 after buying an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.
Bath & Body Works Price Performance
Shares of NYSE:BBWI traded down $0.74 during trading hours on Friday, hitting $27.11. The company's stock had a trading volume of 9,960,931 shares, compared to its average volume of 4,573,458. The firm's fifty day moving average price is $34.45 and its 200 day moving average price is $34.10. Bath & Body Works, Inc. has a 52 week low of $25.41 and a 52 week high of $52.99. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 6.61, a P/E/G ratio of 0.92 and a beta of 1.69.
Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.05. The business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. On average, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.
Bath & Body Works declared that its board has approved a stock repurchase program on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Bath & Body Works Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's payout ratio is 21.98%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Robert W. Baird increased their target price on Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Piper Sandler lifted their price objective on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $42.00 to $48.00 in a report on Friday, January 10th. Cowen restated a "buy" rating on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $43.00 target price 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 issued a buy rating to the stock. According to data from MarketBeat.com, Bath & Body Works has a consensus rating of "Moderate Buy" and an average target price of $45.06.
View Our Latest Analysis on BBWI
Bath & Body Works Profile
(
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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