GMT Capital Corp Reduces Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

GMT Capital Corp decreased its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,482,100 shares of the company's stock after selling 390,900 shares during the period. Bath & Body Works accounts for about 6.6% of GMT Capital Corp's investment portfolio, making the stock its 3rd largest position. GMT Capital Corp owned about 1.61% of Bath & Body Works worth $135,001,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Bath & Body Works during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its holdings in Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after buying an additional 329 shares in the last quarter. UMB Bank n.a. raised its position 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 valued at $35,000 after buying an additional 335 shares during the last quarter. Lindbrook Capital LLC lifted its holdings 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 worth $37,000 after buying an additional 431 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bath & Body Works during the third quarter worth $39,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

Bath & Body Works Price Performance

Shares of NYSE:BBWI traded up $1.10 during trading hours on Monday, hitting $30.68. 1,806,914 shares of the company's stock traded hands, compared to its average volume of 4,779,225. The business has a fifty day moving average price of $31.33 and a 200-day moving average price of $33.86. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $52.99. The firm has a market capitalization of $6.57 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69.

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

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

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.61%. Bath & Body Works's dividend payout ratio (DPR) is 21.98%.

Analyst Ratings Changes

Several brokerages have commented on BBWI. Cowen reiterated a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Citigroup dropped their price target on Bath & Body Works from $48.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group cut their price target on Bath & Body Works from $49.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Telsey Advisory Group reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Piper Sandler raised shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and cut their target price for the company from $38.00 to $35.00 in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Bath & Body Works has an average rating of "Moderate Buy" and a consensus price target of $42.69.

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.