Bath & Body Works, Inc. (NYSE:BBWI) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 40.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,149 shares of the company’s stock after acquiring an additional 2,635 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Bath & Body Works were worth $355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of Bath & Body Works in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. increased 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 purchasing an additional 329 shares in the last quarter. True Wealth Design LLC raised its position in Bath & Body Works by 5,270.0% in the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the period. UMB Bank n.a. lifted its stake in shares of Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after purchasing an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after buying an additional 431 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on BBWI shares. Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $42.00 to $48.00 in a report on Friday, January 10th. Citigroup raised shares of Bath & Body Works from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $48.00 in a research report on Friday, February 28th. TD Cowen upped their target price on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Raymond James reaffirmed an “outperform” rating and set a $46.00 target price (up from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $43.00 price target on shares of Bath & Body Works in a report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average target price of $45.06.

Bath & Body Works Stock Down 0.9 %

BBWI stock opened at $29.97 on Wednesday. The firm’s 50-day simple moving average is $36.10 and its 200 day simple moving average is $33.99. The stock has a market cap of $6.49 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.78 billion. Equities analysts forecast 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 approved a stock buyback program on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

About Bath & Body Works

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.