Sage Rhino Capital LLC Takes $345,000 Position in Bath & Body Works, Inc. (NYSE:BBWI)

Sage Rhino Capital LLC purchased a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,901 shares of the company's stock, valued at approximately $345,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Bath & Body Works by 17,496.5% in the 3rd 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 during the period. KBC Group NV boosted its holdings in shares of Bath & Body Works by 9,023.5% during the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company's stock worth $54,322,000 after purchasing an additional 1,683,160 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Bath & Body Works in the third quarter valued at approximately $50,483,000. Senvest Management LLC purchased a new stake in Bath & Body Works in the 3rd quarter valued at $30,537,000. Finally, Principal Financial Group Inc. increased its stake in shares of Bath & Body Works by 328.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company's stock worth $34,153,000 after acquiring an additional 820,379 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Bath & Body Works Stock Performance

NYSE BBWI traded down $0.44 on Thursday, reaching $34.18. The stock had a trading volume of 4,212,189 shares, compared to its average volume of 3,867,271. The stock has a market cap of $7.40 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.83. The business's 50-day moving average price is $37.45 and its 200 day moving average price is $34.18. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99.

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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 analysts' consensus estimates of $2.04 by $0.05. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates 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, sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, February 21st. Bath & Body Works's payout ratio is 21.98%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird increased their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. TD Cowen boosted their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Piper Sandler increased their price objective 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. Deutsche Bank Aktiengesellschaft boosted their target price on Bath & Body Works from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a research 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 company. Based on data from MarketBeat, Bath & Body Works presently has an average rating of "Moderate Buy" and a consensus target price of $45.06.

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.