Wealthfront Advisers LLC Decreases Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Wealthfront Advisers LLC reduced its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 35.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,504 shares of the company's stock after selling 29,361 shares during the period. Wealthfront Advisers LLC's holdings in Bath & Body Works were worth $2,113,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC lifted its position in shares of Bath & Body Works by 4.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company's stock valued at $271,000 after purchasing an additional 324 shares in the last quarter. SRS Capital Advisors Inc. raised its position in 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 acquiring an additional 329 shares during the period. TD Private Client Wealth LLC raised its position in Bath & Body Works by 24.2% in the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company's stock worth $54,000 after acquiring an additional 331 shares during the period. UMB Bank n.a. raised its position in Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after acquiring an additional 335 shares during the period. Finally, Lindbrook Capital LLC raised its position in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after acquiring an additional 431 shares during the period. 95.14% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several analysts have commented on BBWI shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. TD Cowen lifted their price objective on shares of 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 research report on Friday, January 10th. Finally, Wells Fargo & Company raised shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $42.00 to $48.00 in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.06.

Bath & Body Works Stock Up 0.9 %

NYSE:BBWI traded up $0.26 during mid-day trading on Wednesday, hitting $30.24. 5,886,906 shares of the stock traded hands, compared to its average volume of 4,092,079. Bath & Body Works, Inc. has a 12-month low of $26.21 and a 12-month high of $52.99. The company has a market cap of $6.55 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. The business's 50-day moving average price is $36.10 and its 200 day moving average price is $33.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. Bath & Body Works's dividend payout ratio is 21.98%.

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

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.