Arrowstreet Capital Limited Partnership Has $150.51 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

Arrowstreet Capital Limited Partnership lifted its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 79.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,882,047 shares of the company’s stock after purchasing an additional 1,715,096 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.79% of Bath & Body Works worth $150,507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BBWI. Cerity Partners LLC grew its holdings in Bath & Body Works by 227.2% during the 3rd quarter. Cerity Partners LLC now owns 25,093 shares of the company’s stock worth $801,000 after acquiring an additional 17,423 shares during the last quarter. FMR LLC increased its holdings in Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after purchasing an additional 2,501,828 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Bath & Body Works in the third quarter valued at $1,472,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Bath & Body Works by 3.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,158,390 shares of the company’s stock worth $36,976,000 after purchasing an additional 40,868 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Bath & Body Works by 57.2% during the 3rd quarter. Captrust Financial Advisors now owns 16,059 shares of the company’s stock worth $513,000 after buying an additional 5,842 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Raymond James reaffirmed an “outperform” rating and issued a $46.00 price objective (up from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Piper Sandler lifted their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, TD Cowen lifted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.06.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $30.93 on Monday. The company has a 50-day moving average price of $35.21 and a 200-day moving average price of $34.13. The stock has a market capitalization of $6.63 billion, a P/E ratio of 7.54, a P/E/G ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a 1 year low of $26.21 and a 1 year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 44.03% and a net margin of 12.43%. As a group, equities research analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its board has authorized a share repurchase 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Bath & Body Works Announces Dividend

The company also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s dividend payout ratio is 21.98%.

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.