Cadian Capital Management LP Sells 1,235,416 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Cadian Capital Management LP decreased its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 55.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,010,284 shares of the company's stock after selling 1,235,416 shares during the period. Bath & Body Works accounts for about 2.3% of Cadian Capital Management LP's holdings, making the stock its 14th biggest position. Cadian Capital Management LP owned about 0.47% of Bath & Body Works worth $39,169,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBWI. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Bath & Body Works by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock worth $2,046,000 after acquiring an additional 12,964 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Bath & Body Works by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock worth $3,428,000 after purchasing an additional 4,625 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock valued at $66,088,000 after purchasing an additional 195,813 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Bath & Body Works during the 4th quarter valued at approximately $1,350,000. Finally, Alliancebernstein L.P. boosted its holdings in Bath & Body Works by 35.6% in the 4th 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. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Trading Up 2.1 %

Shares of BBWI stock traded up $0.64 during trading hours on Wednesday, hitting $30.51. 2,509,755 shares of the company's stock were exchanged, compared to its average volume of 4,796,776. The company has a market capitalization of $6.50 billion, a PE ratio of 7.44, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a 12-month low of $24.96 and a 12-month high of $52.99. The business's 50 day simple moving average is $29.97 and its 200-day simple moving average is $33.77.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its 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 company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. Equities analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works declared that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. Bath & Body Works's dividend payout ratio (DPR) is currently 21.98%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BBWI. JPMorgan Chase & Co. lowered their target price on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Robert W. Baird boosted their price objective 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. Wells Fargo & Company cut their target price on Bath & Body Works from $48.00 to $40.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Barclays decreased their price target on 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. 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.88.

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.