Los Angeles Capital Management LLC Has $1.83 Million Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Los Angeles Capital Management LLC lessened its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 64.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,170 shares of the company’s stock after selling 87,374 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Bath & Body Works were worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Raymond James & Associates raised its position in Bath & Body Works by 6.8% in the third quarter. Raymond James & Associates now owns 89,680 shares of the company’s stock worth $2,863,000 after purchasing an additional 5,706 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bath & Body Works by 69.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,092 shares of the company’s stock worth $586,000 after buying an additional 7,443 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Bath & Body Works in the 3rd quarter worth approximately $343,000. New York State Teachers Retirement System lifted its position in shares of Bath & Body Works by 18.1% during the 3rd quarter. New York State Teachers Retirement System now owns 266,235 shares of the company’s stock worth $8,498,000 after buying an additional 40,793 shares during the period. Finally, Amalgamated Bank grew its position in Bath & Body Works by 5.3% in the third quarter. Amalgamated Bank now owns 70,060 shares of the company’s stock valued at $2,236,000 after acquiring an additional 3,553 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BBWI shares. Argus restated a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Citigroup upgraded shares of Bath & Body Works from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $48.00 in a research report on Friday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $43.00 price objective on shares of Bath & Body Works in a research note on Thursday. Piper Sandler lifted their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, Barclays raised Bath & Body Works from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $34.00 to $43.00 in a report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and an average target price of $45.38.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $36.22 on Friday. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The firm has a market capitalization of $7.84 billion, a P/E ratio of 8.83, a P/E/G ratio of 0.92 and a beta of 1.83. The company’s 50 day simple moving average is $37.70 and its 200 day simple moving average is $34.12.

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, topping the consensus estimate of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Sell-side analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.21%. Bath & Body Works’s payout ratio is currently 19.51%.

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.