Norges Bank Acquires Shares of 1,897,640 Bath & Body Works, Inc. (NYSE:BBWI)

Norges Bank purchased a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,897,640 shares of the company's stock, valued at approximately $73,572,000. Norges Bank owned 0.88% of Bath & Body Works as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BBWI. Cerity Partners LLC raised its holdings in Bath & Body Works by 227.2% during the 3rd quarter. Cerity Partners LLC now owns 25,093 shares of the company's stock valued at $801,000 after acquiring an additional 17,423 shares during the period. FMR LLC grew its position in shares of Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company's stock valued at $80,315,000 after purchasing an additional 2,501,828 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Bath & Body Works by 3.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,158,390 shares of the company's stock valued at $36,976,000 after purchasing an additional 40,868 shares during the period. Captrust Financial Advisors lifted its holdings in Bath & Body Works by 57.2% during the 3rd quarter. Captrust Financial Advisors now owns 16,059 shares of the company's stock worth $513,000 after purchasing an additional 5,842 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in Bath & Body Works in the 3rd quarter worth about $6,770,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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Bath & Body Works Trading Down 2.6 %

Shares of BBWI stock traded down $0.74 during trading hours on Friday, hitting $27.11. 9,960,931 shares of the company's stock were exchanged, compared to its average volume of 4,573,458. The company has a market capitalization of $5.81 billion, a PE ratio of 6.61, a PEG ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a 12-month low of $25.41 and a 12-month high of $52.99. The business's 50 day simple moving average is $34.45 and its 200-day simple moving average is $34.10.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued 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. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has approved a share repurchase plan on Thursday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors 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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, February 21st. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target on Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Piper Sandler upped their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company raised shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $42.00 to $48.00 in a report on Friday, January 10th. Robert W. Baird upped their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Finally, TD Cowen lifted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.06.

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.