Frazier Financial Advisors LLC Boosts Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Frazier Financial Advisors LLC raised its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 7.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 44,282 shares of the company’s stock after purchasing an additional 3,200 shares during the quarter. Bath & Body Works accounts for about 1.4% of Frazier Financial Advisors LLC’s portfolio, making the stock its 13th largest position. Frazier Financial Advisors LLC’s holdings in Bath & Body Works were worth $1,722,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BBWI. FMR LLC lifted its holdings in shares of Bath & Body Works by 17,496.5% in the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after buying an additional 2,501,828 shares during the period. Norges Bank purchased a new position in shares of Bath & Body Works in the fourth quarter worth about $73,572,000. Erste Asset Management GmbH acquired a new position in Bath & Body Works during the third quarter valued at $50,483,000. Principal Financial Group Inc. grew its stake in shares of Bath & Body Works by 328.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock worth $34,153,000 after purchasing an additional 820,379 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of Bath & Body Works by 111.8% in the 3rd quarter. Verition Fund Management LLC now owns 1,345,777 shares of the company’s stock valued at $42,957,000 after purchasing an additional 710,333 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

NYSE:BBWI opened at $31.93 on Friday. Bath & Body Works, Inc. has a 52 week low of $26.21 and a 52 week high of $52.99. The firm’s 50-day simple moving average is $35.33 and its 200 day simple moving average is $34.00. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.92 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.04 by $0.05. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders 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 yield of 2.51%. Bath & Body Works’s payout ratio is currently 21.98%.

Bath & Body Works declared that its board has authorized a stock buyback program on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BBWI shares. Telsey Advisory Group restated an “outperform” rating and set a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Argus restated a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Citigroup upgraded shares of Bath & Body Works from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $48.00 in a research note on Friday, February 28th. Robert W. Baird upped their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Bath & Body Works presently has an average rating of “Moderate Buy” and a consensus price target 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.