GAMMA Investing LLC Has $4.56 Million Stake in Bath & Body Works, Inc. (NYSE:BBWI)

GAMMA Investing LLC raised its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 3,018.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,290 shares of the company's stock after purchasing an additional 133,856 shares during the quarter. GAMMA Investing LLC owned about 0.06% of Bath & Body Works worth $4,561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBWI. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bath & Body Works by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock worth $2,046,000 after buying an additional 12,964 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings 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 worth $3,428,000 after acquiring an additional 4,625 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in Bath & Body Works during the fourth quarter worth about $258,000. Charles Schwab Investment Management Inc. raised its position in Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock worth $66,088,000 after acquiring an additional 195,813 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Bath & Body Works by 3.7% in the 4th quarter. Nuveen Asset Management LLC now owns 764,195 shares of the company's stock valued at $29,628,000 after acquiring an additional 27,136 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Stock Performance

NYSE:BBWI traded down $0.09 during trading hours on Thursday, hitting $26.17. 1,128,893 shares of the company's stock traded hands, compared to its average volume of 5,000,493. The stock's fifty day moving average price is $29.50 and its two-hundred day moving average price is $33.70. The firm has a market cap of $5.54 billion, a P/E ratio of 6.38, a P/E/G ratio of 0.92 and a beta of 1.72. Bath & Body Works, Inc. has a twelve month low of $24.96 and a twelve month high of $45.99.

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

Bath & Body Works declared that its board has approved a stock repurchase plan on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders 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 3.06%. Bath & Body Works's payout ratio is 21.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BBWI shares. UBS Group lifted their price objective on shares of Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Citigroup increased their target price on shares of Bath & Body Works from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Piper Sandler set a $39.00 price target on shares of Bath & Body Works and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Morgan Stanley dropped their price target on Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Barclays cut their price objective on Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Bath & Body Works has a consensus rating of "Moderate Buy" and an average target price of $42.00.

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.