Bath & Body Works, Inc. (NYSE:BBWI) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lifted its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 291.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,896 shares of the company's stock after acquiring an additional 19,285 shares during the period. Pallas Capital Advisors LLC's holdings in Bath & Body Works were worth $785,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BBWI. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bath & Body Works by 32.6% during the fourth 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 in the last quarter. PNC Financial Services Group Inc. raised its position in Bath & Body Works by 5.5% during the fourth 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 period. Kovitz Investment Group Partners LLC bought a new stake in shares of Bath & Body Works in the 4th quarter valued at approximately $258,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bath & Body Works by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock worth $66,088,000 after purchasing an additional 195,813 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Bath & Body Works by 3.7% in the 4th quarter. Nuveen Asset Management LLC now owns 764,195 shares of the company's stock worth $29,628,000 after purchasing an additional 27,136 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cowen restated a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. UBS Group raised their target price on shares of Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Morgan Stanley dropped 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 note on Tuesday, May 6th. Raymond James cut their target price on Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays dropped their target price on shares of Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Four 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Bath & Body Works Stock Performance

NYSE:BBWI traded down $0.17 during mid-day trading on Thursday, hitting $26.09. 4,445,439 shares of the company's stock traded hands, compared to its average volume of 5,021,100. The company has a market capitalization of $5.52 billion, a P/E ratio of 6.36, a P/E/G ratio of 0.92 and a beta of 1.72. The company has a fifty day moving average of $29.50 and a 200 day moving average of $33.70. Bath & Body Works, Inc. has a twelve month low of $24.96 and a twelve month high of $44.23.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.42 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, research analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.07%. Bath & Body Works's dividend payout ratio (DPR) is presently 21.33%.

Bath & Body Works declared that its board has authorized a share buyback program on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board 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.