Brant Point Investment Management LLC Acquires New Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Brant Point Investment Management LLC purchased a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 130,000 shares of the company's stock, valued at approximately $5,040,000. Brant Point Investment Management LLC owned about 0.06% of Bath & Body Works at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Bard Financial Services Inc. bought a new stake in Bath & Body Works during the 3rd quarter worth approximately $412,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Bath & Body Works during the third quarter worth $39,000. Franklin Resources Inc. raised its holdings in shares of Bath & Body Works by 50.8% during the third quarter. Franklin Resources Inc. now owns 265,221 shares of the company's stock worth $8,230,000 after acquiring an additional 89,350 shares during the period. Principal Financial Group Inc. lifted its position in Bath & Body Works by 328.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company's stock valued at $34,153,000 after acquiring an additional 820,379 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Bath & Body Works by 161.7% in the 4th quarter. Versant Capital Management Inc now owns 2,141 shares of the company's stock valued at $83,000 after acquiring an additional 1,323 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

Analyst Ratings Changes

BBWI has been the topic of several recent research reports. Citigroup dropped their price target on Bath & Body Works from $48.00 to $36.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Robert W. Baird lifted their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Wells Fargo & Company raised Bath & Body Works from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Barclays lowered their price objective on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Finally, Raymond James lowered their price target on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.69.

Bath & Body Works Stock Performance

Shares of NYSE BBWI traded up $0.50 during trading hours on Wednesday, reaching $29.25. 2,538,573 shares of the stock were exchanged, compared to its average volume of 4,744,641. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 7.13, a P/E/G ratio of 0.92 and a beta of 1.69. The stock's fifty day simple moving average is $31.83 and its 200 day simple moving average is $33.85. Bath & Body Works, Inc. has a 52 week low of $24.96 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.78 billion. Research analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Friday, February 21st. Bath & Body Works's dividend payout ratio is currently 21.98%.

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