Canada Pension Plan Investment Board lifted its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,300 shares of the company's stock after purchasing an additional 23,500 shares during the quarter. Canada Pension Plan Investment Board's holdings in Bath & Body Works were worth $2,997,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in BBWI. Bard Financial Services Inc. purchased a new position in Bath & Body Works in the 3rd quarter valued at about $412,000. Wilmington Savings Fund Society FSB purchased a new position in Bath & Body Works in the 3rd quarter valued at about $39,000. Franklin Resources Inc. lifted its holdings in Bath & Body Works by 50.8% in the 3rd quarter. Franklin Resources Inc. now owns 265,221 shares of the company's stock valued at $8,230,000 after purchasing an additional 89,350 shares in the last quarter. Principal Financial Group Inc. lifted its holdings 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 purchasing an additional 820,379 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings 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 purchasing an additional 1,323 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.
Bath & Body Works Stock Performance
Bath & Body Works stock traded up $1.63 during trading on Monday, reaching $31.21. 5,691,259 shares of the company's stock were exchanged, compared to its average volume of 4,794,264. The company's 50-day moving average is $31.15 and its two-hundred day moving average is $33.86. Bath & Body Works, Inc. has a 52-week low of $24.96 and a 52-week high of $52.99. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 0.92 and a beta of 1.69.
Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.
Bath & Body Works Dividend Announcement
The company 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 was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. Bath & Body Works's payout ratio is currently 21.98%.
Bath & Body Works declared that its board has authorized a share repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
BBWI has been the topic of a number of recent research reports. Piper Sandler upgraded shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $38.00 to $35.00 in a report on Wednesday, April 9th. Robert W. Baird increased their price objective on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Argus reiterated a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. JPMorgan Chase & Co. cut their price objective 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. Finally, Barclays cut 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. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.69.
Read Our Latest Stock Report on Bath & Body Works
About Bath & Body Works
(
Free Report)
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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