Bath & Body Works, Inc. (NYSE:BBWI) Stock Position Reduced by Swiss National Bank

Swiss National Bank reduced its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 34.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 409,300 shares of the company's stock after selling 219,800 shares during the quarter. Swiss National Bank owned about 0.19% of Bath & Body Works worth $15,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Bath & Body Works during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. lifted its position in Bath & Body Works by 99.7% during 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 position in Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company's stock worth $34,000 after buying an additional 1,054 shares during the period. UMB Bank n.a. lifted its position in Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after buying an additional 335 shares during the period. Finally, Lindbrook Capital LLC lifted its position in Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after buying an additional 431 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

BBWI traded up $0.14 on Friday, reaching $30.24. The company's stock had a trading volume of 42,058,293 shares, compared to its average volume of 4,241,127. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 7.38, 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 business's 50 day moving average is $35.70 and its 200 day moving average is $33.93.

Remove Ads

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.05. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. As a group, research analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its board has approved a share repurchase program on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors 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 2.65%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's dividend payout ratio is currently 21.98%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BBWI shares. Telsey Advisory Group reiterated an "outperform" rating and set a $43.00 target price on shares of Bath & Body Works in a research report on Thursday, February 27th. JPMorgan Chase & Co. set a $47.00 target price on Bath & Body Works in a research report on Thursday, February 27th. Raymond James restated an "outperform" rating and set a $46.00 price target (up from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft upped their price target 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, Wells Fargo & Company upgraded Bath & Body Works from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $42.00 to $48.00 in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.