Ameriprise Financial Inc. Has $20.03 Million Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Ameriprise Financial Inc. lessened its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 516,641 shares of the company's stock after selling 27,080 shares during the period. Ameriprise Financial Inc. owned about 0.24% of Bath & Body Works worth $20,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its position in Bath & Body Works by 4.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company's stock valued at $271,000 after purchasing an additional 324 shares in the last quarter. 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 valued at $26,000 after acquiring an additional 329 shares in the last quarter. UMB Bank n.a. increased its position in shares of Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock valued at $35,000 after acquiring an additional 335 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after acquiring an additional 431 shares in the last quarter. Finally, Cornerstone Investment Partners LLC raised its holdings in Bath & Body Works by 3.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 12,248 shares of the company's stock worth $475,000 after acquiring an additional 452 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BBWI shares. Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the stock an "overweight" rating in a report on Thursday. The Goldman Sachs Group cut their price target on shares of Bath & Body Works from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their price objective on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Finally, Morgan Stanley cut their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.06.

Bath & Body Works Stock Down 0.6%

Shares of BBWI traded down $0.20 during midday trading on Monday, reaching $33.56. 5,257,459 shares of the stock were exchanged, compared to its average volume of 4,845,499. The stock's 50 day simple moving average is $29.97 and its 200 day simple moving average is $34.00. The company has a market cap of $7.15 billion, a P/E ratio of 8.19, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a twelve month low of $24.96 and a twelve month high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.78 billion. As a group, analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, June 6th. Bath & Body Works's dividend payout ratio is currently 21.98%.

Bath & Body Works declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.