Bridger Management LLC Acquires 27,713 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Bridger Management LLC boosted its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,615 shares of the company's stock after acquiring an additional 27,713 shares during the period. Bath & Body Works makes up approximately 5.2% of Bridger Management LLC's investment portfolio, making the stock its 8th largest holding. Bridger Management LLC owned 0.12% of Bath & Body Works worth $9,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Bath & Body Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock valued at $1,093,306,000 after acquiring an additional 208,036 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Bath & Body Works by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company's stock valued at $396,815,000 after purchasing an additional 422,973 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bath & Body Works by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company's stock valued at $329,317,000 after purchasing an additional 445,887 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Bath & Body Works by 35.6% during the fourth 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 during the period. Finally, Anomaly Capital Management LP boosted its position in shares of Bath & Body Works by 38.3% during the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock worth $188,456,000 after buying an additional 1,346,752 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Stock Performance

Shares of BBWI opened at $30.31 on Tuesday. The firm's 50-day simple moving average is $30.20 and its 200 day simple moving average is $33.82. The firm has a market cap of $6.46 billion, a P/E ratio of 7.39, a price-to-earnings-growth 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.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its 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. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates 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 forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.64%. Bath & Body Works's payout ratio is presently 21.98%.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BBWI. Robert W. Baird boosted their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. The Goldman Sachs Group cut 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 research report on Tuesday, April 22nd. Barclays reduced their target price on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Wells Fargo & Company lowered their price target on shares of Bath & Body Works from $48.00 to $40.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Raymond James reduced their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.19.

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.

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