Alpine Global Management LLC Buys Shares of 14,850 Bath & Body Works, Inc. (NYSE:BBWI)

Alpine Global Management LLC purchased a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,850 shares of the company's stock, valued at approximately $576,000.

Several other large investors have also recently made changes to their positions in the stock. D1 Capital Partners L.P. purchased a new position in shares of Bath & Body Works in the fourth quarter valued at approximately $109,797,000. Norges Bank acquired a new stake in Bath & Body Works during the 4th quarter worth approximately $73,572,000. Arrowstreet Capital Limited Partnership boosted its position in Bath & Body Works by 79.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock valued at $150,507,000 after buying an additional 1,715,096 shares during the period. Alliancebernstein L.P. grew its stake in shares of Bath & Body Works by 35.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock worth $200,768,000 after acquiring an additional 1,360,264 shares in the last quarter. Finally, Anomaly Capital Management LP increased its position in shares of Bath & Body Works by 38.3% during the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock worth $188,456,000 after acquiring an additional 1,346,752 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on BBWI. JPMorgan Chase & Co. raised their target price on shares of Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Raymond James reduced their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company boosted their target price on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Telsey Advisory Group restated an "outperform" rating and issued a $43.00 price target on shares of Bath & Body Works in a research note on Tuesday, May 20th. Finally, Robert W. Baird upped their price objective on Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.56.

Bath & Body Works Price Performance

Shares of BBWI stock traded down $0.04 during midday trading on Wednesday, hitting $30.50. The company had a trading volume of 2,669,213 shares, compared to its average volume of 4,906,685. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 0.92 and a beta of 1.87. The company's 50 day simple moving average is $30.23 and its 200 day simple moving average is $34.01. Bath & Body Works, Inc. has a 52-week low of $24.96 and a 52-week high of $52.99.

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 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 Announces Dividend

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 given a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. Bath & Body Works's payout ratio is currently 21.98%.

Bath & Body Works declared that its board has initiated a stock buyback program on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

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.