Alpine Global Management LLC Takes Position in Bath & Body Works, Inc. (NYSE:BBWI)

Alpine Global Management LLC acquired a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,850 shares of the company's stock, valued at approximately $576,000.

A number of other large investors have also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. increased its holdings in Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after buying an additional 329 shares during the last quarter. UMB Bank n.a. boosted its stake in Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock valued at $35,000 after acquiring an additional 335 shares in the last quarter. Northwest Bank & Trust Co boosted its stake in Bath & Body Works by 2.9% in the fourth quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company's stock valued at $533,000 after acquiring an additional 419 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock valued at $37,000 after acquiring an additional 431 shares in the last quarter. Finally, Cornerstone Investment Partners LLC boosted its stake in shares of Bath & Body Works by 3.8% during the fourth quarter. Cornerstone Investment Partners LLC now owns 12,248 shares of the company's stock worth $475,000 after buying an additional 452 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Price Performance

Shares of NYSE:BBWI traded up $0.20 during trading on Tuesday, reaching $30.47. 7,546,116 shares of the company's stock traded hands, compared to its average volume of 4,914,893. Bath & Body Works, Inc. has a 12 month low of $24.96 and a 12 month high of $52.99. The company has a 50 day moving average of $30.22 and a 200-day moving average of $34.03. The stock has a market capitalization of $6.49 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued 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. 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 during the quarter, compared to analyst estimates of $2.78 billion. Equities research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, June 6th. Bath & Body Works's dividend payout ratio is currently 21.98%.

Bath & Body Works announced that its board has initiated a stock buyback program on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BBWI has been the subject of several recent research reports. Raymond James decreased their target price 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. Telsey Advisory Group restated an "outperform" rating and issued a $43.00 price objective on shares of Bath & Body Works in a research report on Tuesday, May 20th. Cowen restated a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Morgan Stanley reduced their price target on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upped their target price on Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Bath & Body Works presently has an average rating of "Moderate Buy" and an average price target of $42.56.

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.