Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by PGGM Investments

PGGM Investments decreased its position in Bath & Body Works, Inc. (NYSE:BBWI) by 68.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,894 shares of the company’s stock after selling 10,683 shares during the quarter. PGGM Investments’ holdings in Bath & Body Works were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its holdings in Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after buying an additional 329 shares during the period. Golden State Wealth Management LLC purchased a new stake in Bath & Body Works in the 4th quarter valued at about $26,000. UMB Bank n.a. grew 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 buying an additional 335 shares during the period. Lindbrook Capital LLC grew its holdings in Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after buying an additional 431 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Bath & Body Works by 135.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock valued at $39,000 after buying an additional 582 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Stock Up 3.8 %

Shares of BBWI opened at $29.54 on Friday. The business’s 50 day moving average is $36.36 and its two-hundred day moving average is $33.99. Bath & Body Works, Inc. has a 52-week low of $26.21 and a 52-week high of $52.99. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 0.92 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.05. The business 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, equities analysts expect 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 declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Bath & Body Works announced that its board has initiated a stock 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 purchase 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BBWI. Piper Sandler boosted their target price on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Argus reiterated a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Raymond James reiterated an “outperform” rating and set a $46.00 target price (up previously from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Finally, Citigroup raised Bath & Body Works from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $48.00 in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.06.

Bath & Body Works Company 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.