Proficio Capital Partners LLC Invests $1.38 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Proficio Capital Partners LLC acquired a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 35,552 shares of the company's stock, valued at approximately $1,378,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its stake in Bath & Body Works by 1.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 52,355 shares of the company's stock valued at $2,030,000 after buying an additional 604 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Bath & Body Works by 93.9% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 29,375 shares of the company's stock worth $1,139,000 after purchasing an additional 14,225 shares during the last quarter. South Dakota Investment Council increased its stake in shares of Bath & Body Works by 2.2% during the 4th quarter. South Dakota Investment Council now owns 429,504 shares of the company's stock worth $16,652,000 after purchasing an additional 9,063 shares during the last quarter. Howard Capital Management Inc. acquired a new position in shares of Bath & Body Works during the 4th quarter worth $363,000. Finally, Wealthspire Advisors LLC acquired a new position in shares of Bath & Body Works during the 4th quarter worth $213,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley dropped their price target on shares of Bath & Body Works from $51.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, November 21st. Telsey Advisory Group restated an "outperform" rating and set a $43.00 price target on shares of Bath & Body Works in a research note on Thursday, February 27th. Argus restated a "hold" rating on shares of Bath & Body Works in a research note on Friday, January 10th. Robert W. Baird increased their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Finally, TD Cowen raised their target price on shares of 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $45.06.

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Bath & Body Works Stock Down 4.5 %

Bath & Body Works stock traded down $1.54 during mid-day trading on Friday, reaching $32.66. The company had a trading volume of 4,652,756 shares, compared to its average volume of 3,886,149. Bath & Body Works, Inc. has a 52 week low of $26.20 and a 52 week high of $52.99. The company has a 50 day moving average of $37.37 and a 200-day moving average of $34.18. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 0.92 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. On average, analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's payout ratio is 21.98%.

Bath & Body Works declared that its board has approved a share repurchase program on Thursday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

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.