Sciencast Management LP purchased a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 78,036 shares of the company's stock, valued at approximately $3,025,000.
Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Bath & Body Works in the fourth quarter worth $26,000. SRS Capital Advisors Inc. increased its holdings in shares of Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock worth $26,000 after buying an additional 329 shares during the period. True Wealth Design LLC lifted its stake in shares of Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock valued at $34,000 after acquiring an additional 1,054 shares during the last quarter. UMB Bank n.a. boosted its holdings in 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 acquiring an additional 335 shares during the period. Finally, Lindbrook Capital LLC grew its position in Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after acquiring an additional 431 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Argus reiterated a "hold" rating on shares of Bath & Body Works 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. Citigroup raised Bath & Body Works from a "neutral" rating to a "buy" rating and raised their price target for the stock from $40.00 to $48.00 in a research note on Friday, February 28th. Finally, Barclays cut their price target on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.06.
Check Out Our Latest Stock Analysis on Bath & Body Works
Bath & Body Works Price Performance
NYSE BBWI traded down $0.36 during mid-day trading on Wednesday, reaching $31.84. The stock had a trading volume of 4,626,177 shares, compared to its average volume of 4,272,099. The stock has a market cap of $6.82 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a 1 year low of $26.21 and a 1 year high of $52.99. The company has a fifty day moving average price of $35.52 and a 200 day moving average price of $34.03.
Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. As a group, equities research analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.
Bath & Body Works Dividend Announcement
The business 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. The ex-dividend date was Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.51%. Bath & Body Works's payout ratio is 21.98%.
Bath & Body Works declared that its board has authorized 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 shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.
Bath & Body Works Profile
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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.
Further Reading
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