BNP Paribas Financial Markets Makes New $36.45 Million Investment in Bath & Body Works, Inc. (NYSE:BBWI)

BNP Paribas Financial Markets bought a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 940,027 shares of the company's stock, valued at approximately $36,445,000. BNP Paribas Financial Markets owned 0.43% of Bath & Body Works at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in Bath & Body Works during the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. increased its position in shares of 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 purchasing an additional 329 shares during the period. UMB Bank n.a. raised its stake in shares of Bath & Body Works by 58.8% in the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after buying an additional 335 shares in 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 valued at $37,000 after buying an additional 431 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Bath & Body Works during the third quarter valued at about $39,000. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI traded down $0.60 during midday trading on Friday, hitting $31.14. 2,328,934 shares of the stock were exchanged, compared to its average volume of 4,814,454. The company has a market capitalization of $6.63 billion, a PE ratio of 7.60, a P/E/G ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a 52-week low of $24.96 and a 52-week high of $52.99. The business's fifty day simple moving average is $29.83 and its two-hundred day simple moving average is $33.84.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted 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 negative return on equity of 44.03% and a net margin of 12.43%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. As a group, equities analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works announced that its Board of Directors has initiated a share buyback program on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have commented on BBWI shares. Citigroup dropped their price target on shares of Bath & Body Works from $48.00 to $36.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Morgan Stanley reduced 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 report on Tuesday, May 6th. Piper Sandler raised Bath & Body Works from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $38.00 to $35.00 in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their target price on Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.88.

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.