Forte Capital LLC ADV Invests $211,000 in Bath & Body Works, Inc. (NYSE:BBWI)

Forte Capital LLC ADV acquired a new position in Bath & Body Works, Inc. (NYSE:BBWI) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,430 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC increased its position in shares of Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after acquiring an additional 2,501,828 shares during the last quarter. KBC Group NV grew its holdings in Bath & Body Works by 9,023.5% during the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after purchasing an additional 1,683,160 shares during the period. Erste Asset Management GmbH bought a new position in Bath & Body Works during the third quarter valued at $50,483,000. Assenagon Asset Management S.A. grew its holdings in Bath & Body Works by 723.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company’s stock valued at $37,268,000 after purchasing an additional 1,025,757 shares during the period. Finally, Senvest Management LLC bought a new position in Bath & Body Works during the third quarter valued at $30,537,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $38.51 on Friday. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The company has a market capitalization of $8.34 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.95 and a beta of 1.83. The business’s fifty day moving average is $37.70 and its 200 day moving average is $33.86.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted $0.48 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts forecast that Bath & Body Works, Inc. will post 3.26 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.20 per share. The ex-dividend date is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.08%. Bath & Body Works’s payout ratio is 19.51%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler increased their price objective on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised Bath & Body Works from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $47.00 in a report on Tuesday. Argus reissued a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $42.00 to $48.00 in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.63.

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.