Royce & Associates LP Invests $1.28 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Royce & Associates LP acquired a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 32,918 shares of the company's stock, valued at approximately $1,276,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC increased its position in shares of Bath & Body Works by 68.0% in the third quarter. Empowered Funds LLC now owns 26,462 shares of the company's stock worth $845,000 after acquiring an additional 10,711 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Bath & Body Works by 18.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 33,429 shares of the company's stock valued at $1,067,000 after purchasing an additional 5,203 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Bath & Body Works by 1,842.6% in the third quarter. Thrivent Financial for Lutherans now owns 175,301 shares of the company's stock valued at $5,596,000 after purchasing an additional 166,277 shares during the period. Quest Partners LLC lifted its stake in shares of Bath & Body Works by 200.3% during the third quarter. Quest Partners LLC now owns 33,256 shares of the company's stock worth $1,062,000 after purchasing an additional 22,181 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Bath & Body Works by 480.3% in the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company's stock worth $55,000 after buying an additional 1,436 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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Bath & Body Works Stock Performance

Shares of BBWI traded down $0.23 during mid-day trading on Tuesday, reaching $32.19. 4,755,656 shares of the company's stock traded hands, compared to its average volume of 4,260,480. Bath & Body Works, Inc. has a 12 month low of $26.21 and a 12 month high of $52.99. The stock has a market capitalization of $6.90 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. The business's 50-day moving average price is $35.62 and its 200-day moving average price is $34.01.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.78 billion. Equities research analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a dividend of $0.20 per share. The ex-dividend date was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.49%. Bath & Body Works's payout ratio is 21.98%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BBWI. Wells Fargo & Company raised shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $42.00 to $48.00 in a research note on Friday, January 10th. TD Cowen lifted their target price on Bath & Body Works from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Argus reissued a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Raymond James restated an "outperform" rating and set a $46.00 price objective (up from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. Finally, Piper Sandler increased their target price on Bath & Body Works from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Bath & Body Works 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.