Howard Capital Management Inc. Purchases New Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Howard Capital Management Inc. acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 9,363 shares of the company’s stock, valued at approximately $363,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works during the 4th quarter worth about $26,000. True Wealth Design LLC raised its holdings in 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 period. UMB Bank n.a. raised its holdings in Bath & Body Works by 58.8% in 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. Wilmington Savings Fund Society FSB acquired a new stake in Bath & Body Works during the third quarter worth approximately $39,000. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Bath & Body Works by 24.2% during 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. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BBWI has been the topic of a number of recent research reports. Piper Sandler increased their target price on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Barclays upgraded shares of Bath & Body Works from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $34.00 to $43.00 in a research note on Monday. 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 note on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $41.00 to $47.00 in a research report on Tuesday, February 18th. Finally, Argus reiterated a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.19.

Bath & Body Works Stock Up 3.6 %

Shares of BBWI stock opened at $39.99 on Tuesday. The business has a fifty day simple moving average of $37.73 and a 200 day simple moving average of $33.96. The company has a market cap of $8.66 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.96 and a beta of 1.83. Bath & Body Works, Inc. has a twelve month low of $26.20 and a twelve month high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. As a group, equities research 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 business also recently announced 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.00%. Bath & Body Works’s dividend payout ratio is currently 19.51%.

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.