D1 Capital Partners L.P. Acquires New Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

D1 Capital Partners L.P. purchased a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,832,000 shares of the company's stock, valued at approximately $109,797,000. Bath & Body Works accounts for about 1.8% of D1 Capital Partners L.P.'s investment portfolio, making the stock its 20th biggest holding. D1 Capital Partners L.P. owned 1.31% of Bath & Body Works at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Bath & Body Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock worth $1,093,306,000 after acquiring an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings 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 buying an additional 422,973 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Bath & Body Works by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company's stock valued at $329,317,000 after buying an additional 445,887 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Bath & Body Works by 35.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock valued at $200,768,000 after buying an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP boosted its holdings in shares of Bath & Body Works by 38.3% in the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock valued at $188,456,000 after buying an additional 1,346,752 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Argus reissued a "hold" rating on shares of Bath & Body Works in a report on Friday, January 10th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company raised shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. 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 report 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 MarketBeat, Bath & Body Works has a consensus rating of "Moderate Buy" and an average price target of $42.69.

Bath & Body Works Price Performance

BBWI stock traded down $0.66 during midday trading on Tuesday, reaching $30.57. The company had a trading volume of 811,164 shares, compared to its average volume of 5,157,223. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. The stock has a 50 day moving average price of $31.15 and a 200-day moving average price of $33.86. Bath & Body Works, Inc. has a 1-year low of $24.96 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating 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 business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. As a group, research analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Announces Dividend

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

Bath & Body Works declared that its Board of Directors has approved a stock buyback plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are 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.