Bath & Body Works, Inc. (NYSE:BBWI) is Anomaly Capital Management LP's 8th Largest Position

Anomaly Capital Management LP boosted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 38.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,860,876 shares of the company's stock after buying an additional 1,346,752 shares during the quarter. Bath & Body Works accounts for 5.6% of Anomaly Capital Management LP's investment portfolio, making the stock its 8th largest position. Anomaly Capital Management LP owned approximately 2.24% of Bath & Body Works worth $188,456,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Bath & Body Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock worth $1,093,306,000 after buying an additional 208,036 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock worth $200,768,000 after buying an additional 1,360,264 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Bath & Body Works by 79.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock worth $150,507,000 after buying an additional 1,715,096 shares in the last quarter. FMR LLC lifted its holdings in Bath & Body Works by 21.2% during the 4th quarter. FMR LLC now owns 3,050,189 shares of the company's stock worth $118,256,000 after buying an additional 534,062 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Bath & Body Works by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,144,292 shares of the company's stock worth $83,135,000 after buying an additional 313,092 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BBWI. JPMorgan Chase & Co. reduced their price objective on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Telsey Advisory Group restated an "outperform" rating and issued a $43.00 price objective on shares of Bath & Body Works in a report on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Bath & Body Works from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Raymond James reduced 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 report on Thursday, April 17th. Finally, Piper Sandler upgraded shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $38.00 to $35.00 in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.69.

Bath & Body Works Stock Performance

Bath & Body Works stock traded down $0.14 during midday trading on Friday, hitting $29.61. 3,024,953 shares of the company's stock were exchanged, compared to its average volume of 4,790,661. Bath & Body Works, Inc. has a 12-month low of $24.96 and a 12-month high of $52.99. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. The firm's 50 day simple moving average is $31.33 and its 200 day simple moving average is $33.86.

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 (EPS) 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 the consensus estimate of $2.78 billion. On average, equities research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.70%. Bath & Body Works's dividend payout ratio is currently 21.98%.

Bath & Body Works declared that its Board of Directors 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 management believes its stock is undervalued.

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.