ExodusPoint Capital Management LP Has $4.77 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

ExodusPoint Capital Management LP increased its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 156.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,998 shares of the company’s stock after purchasing an additional 74,951 shares during the period. ExodusPoint Capital Management LP owned approximately 0.06% of Bath & Body Works worth $4,769,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its holdings in shares of Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after purchasing an additional 329 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Bath & Body Works during the fourth quarter worth about $26,000. UMB Bank n.a. increased its holdings 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 buying an additional 335 shares in the last quarter. Lindbrook Capital LLC raised its stake 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 valued at $37,000 after acquiring an additional 431 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Bath & Body Works by 135.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock worth $39,000 after acquiring an additional 582 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $27.11 on Monday. The firm’s 50 day simple moving average is $34.45 and its 200 day simple moving average is $34.16. Bath & Body Works, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $52.99. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 6.61, a P/E/G ratio of 0.92 and a beta of 1.69.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Equities research analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Bath & Body Works announced that its board has initiated a share repurchase program on Thursday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BBWI shares. Citigroup upgraded Bath & Body Works from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $48.00 in a research report on Friday, February 28th. Piper Sandler lifted their price target on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Raymond James reissued an “outperform” rating and set a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. JPMorgan Chase & Co. set a $47.00 target price on shares of Bath & Body Works in a research note on Thursday, February 27th. Finally, Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $42.00 to $48.00 in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.06.

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.