Graphene Investments SAS Grows Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Graphene Investments SAS raised its stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 19.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,400 shares of the company's stock after purchasing an additional 15,000 shares during the period. Bath & Body Works accounts for about 2.1% of Graphene Investments SAS's holdings, making the stock its 22nd biggest position. Graphene Investments SAS's holdings in Bath & Body Works were worth $2,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. lifted its holdings in shares of Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock worth $26,000 after purchasing an additional 329 shares during the period. Lindbrook Capital LLC raised its position in shares of Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after purchasing an additional 431 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Bath & Body Works by 135.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock valued at $39,000 after acquiring an additional 582 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Bath & Body Works by 94.7% during the first quarter. Golden State Wealth Management LLC now owns 1,320 shares of the company's stock worth $40,000 after buying an additional 642 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Bath & Body Works by 65.9% in the 1st quarter. UMB Bank n.a. now owns 1,501 shares of the company's stock valued at $46,000 after acquiring an additional 596 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on BBWI shares. UBS Group lifted their target price on Bath & Body Works from $32.00 to $36.00 and gave the company a "neutral" rating in a report on Tuesday, May 20th. Morgan Stanley lowered their price objective 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. Piper Sandler set a $39.00 target price on Bath & Body Works and gave the company an "overweight" rating in a research report on Thursday, May 15th. Cowen reiterated a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Finally, Barclays decreased their price target on shares of Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Bath & Body Works has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $29.20 on Friday. The firm has a market cap of $6.18 billion, a PE ratio of 7.79, a P/E/G ratio of 1.03 and a beta of 1.72. Bath & Body Works, Inc. has a 52-week low of $24.94 and a 52-week high of $41.87. The business's 50 day simple moving average is $29.47 and its 200 day simple moving average is $33.01.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. Bath & Body Works had a net margin of 11.10% and a negative return on equity of 47.44%. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. Bath & Body Works's quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.74%. Bath & Body Works's dividend payout ratio is presently 21.33%.

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

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.

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