Farringdon Capital Ltd. Takes $402,000 Position in Bath & Body Works, Inc. (NYSE:BBWI)

Farringdon Capital Ltd. bought a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,372 shares of the company's stock, valued at approximately $402,000.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bath & Body Works by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock valued at $2,046,000 after purchasing an additional 12,964 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Bath & Body Works by 5.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock valued at $3,428,000 after purchasing an additional 4,625 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Bath & Body Works by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock valued at $66,088,000 after buying an additional 195,813 shares during the period. New Age Alpha Advisors LLC bought a new stake in Bath & Body Works in the fourth quarter worth $1,350,000. Finally, Alliancebernstein L.P. boosted its stake in 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. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Stock Performance

Bath & Body Works stock traded up $0.34 during trading on Wednesday, reaching $29.09. The company had a trading volume of 2,016,353 shares, compared to its average volume of 4,742,804. The firm has a market capitalization of $6.23 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a 1-year low of $24.96 and a 1-year high of $52.99. The firm's 50-day simple moving average is $31.83 and its 200 day simple moving average is $33.85.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates 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 declared that its board has authorized a share repurchase program on Thursday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's payout ratio is presently 21.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Telsey Advisory Group reiterated an "outperform" rating and set a $43.00 price target on shares of Bath & Body Works in a report on Thursday, February 27th. Argus reiterated a "hold" rating on shares of Bath & Body Works in a research report on Friday, January 10th. Citigroup reduced their price target on shares of 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. JPMorgan Chase & Co. decreased 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 report on Monday, April 14th. Finally, Wells Fargo & Company raised shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $42.00 to $48.00 in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.69.

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.