Algert Global LLC Invests $9.23 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Algert Global LLC purchased a new position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 238,017 shares of the company's stock, valued at approximately $9,228,000. Algert Global LLC owned about 0.11% of Bath & Body Works at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Bath & Body Works by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock worth $2,046,000 after acquiring an additional 12,964 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Bath & Body Works by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock worth $3,428,000 after buying an additional 4,625 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock valued at $66,088,000 after buying an additional 195,813 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Bath & Body Works during the fourth quarter worth approximately $1,350,000. Finally, Alliancebernstein L.P. boosted its stake in Bath & Body Works by 35.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock valued at $200,768,000 after acquiring an additional 1,360,264 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Bath & Body Works Price Performance

NYSE BBWI traded up $0.64 during trading on Wednesday, reaching $30.51. 2,509,755 shares of the company's stock were exchanged, compared to its average volume of 4,796,776. Bath & Body Works, Inc. has a fifty-two week low of $24.96 and a fifty-two week high of $52.99. The stock has a market capitalization of $6.50 billion, a P/E ratio of 7.44, a PEG ratio of 0.92 and a beta of 1.87. The business has a 50 day moving average price of $29.97 and a 200-day moving average price of $33.77.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.78 billion. On average, analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its board has authorized a stock repurchase program on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Bath & Body Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's dividend payout ratio (DPR) is presently 21.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James dropped their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Piper Sandler upgraded shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $38.00 to $35.00 in a research report on Wednesday, April 9th. Robert W. Baird raised their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Argus reiterated a "hold" rating on shares of Bath & Body Works in a research note on Friday, January 10th. Finally, Morgan Stanley cut their price target on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Bath & Body Works currently has an average rating of "Moderate Buy" and a consensus target price of $41.88.

Bath & Body Works 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.