Forest Avenue Capital Management LP Increases Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Forest Avenue Capital Management LP boosted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 39.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,044,191 shares of the company's stock after buying an additional 576,428 shares during the period. Bath & Body Works comprises 7.2% of Forest Avenue Capital Management LP's portfolio, making the stock its 5th largest holding. Forest Avenue Capital Management LP owned approximately 0.94% of Bath & Body Works worth $79,253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC boosted its stake in Bath & Body Works by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company's stock valued at $271,000 after buying an additional 324 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake 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 purchasing an additional 329 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company's stock worth $54,000 after purchasing an additional 331 shares during the last quarter. UMB Bank n.a. increased its position in shares of Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after purchasing an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock valued at $37,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BBWI. JPMorgan Chase & Co. dropped their price objective on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citigroup cut their price objective on Bath & Body Works from $48.00 to $36.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Telsey Advisory Group restated an "outperform" rating and set a $43.00 target price on shares of Bath & Body Works in a report on Thursday, February 27th. Argus restated a "hold" rating on shares of Bath & Body Works in a research note on Friday, January 10th. Finally, Barclays reduced their price target on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.13.

Bath & Body Works Stock Up 3.4 %

NYSE BBWI traded up $0.92 on Friday, reaching $28.42. The company had a trading volume of 4,852,461 shares, compared to its average volume of 4,735,779. Bath & Body Works, Inc. has a 52 week low of $24.96 and a 52 week high of $52.99. The stock's 50 day moving average is $32.15 and its 200-day moving average is $33.84. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 6.93, a PEG ratio of 0.92 and a beta of 1.69.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $2.04 by $0.05. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.81%. Bath & Body Works's dividend payout ratio is currently 21.98%.

Bath & Body Works declared that its board has authorized a share repurchase program on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership 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.