Nuveen Asset Management LLC increased its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 764,195 shares of the company's stock after buying an additional 27,136 shares during the quarter. Nuveen Asset Management LLC owned about 0.35% of Bath & Body Works worth $29,628,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in BBWI. Golden State Wealth Management LLC purchased a new position in Bath & Body Works during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. grew its stake in Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock worth $26,000 after buying an additional 329 shares during the last quarter. UMB Bank n.a. grew its stake in Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after buying an additional 335 shares during the last quarter. Lindbrook Capital LLC grew its stake in 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 buying an additional 431 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Bath & Body Works by 135.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock worth $39,000 after buying an additional 582 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on BBWI shares. Wells Fargo & Company raised their price target on Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Citigroup lifted their target price on Bath & Body Works from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Cowen reiterated a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Robert W. Baird lifted their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Finally, Morgan Stanley lowered their target price on Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.56.
Check Out Our Latest Stock Analysis on Bath & Body Works
Bath & Body Works Price Performance
Bath & Body Works stock traded up $0.20 during mid-day trading on Tuesday, hitting $30.47. 7,601,444 shares of the company were exchanged, compared to its average volume of 4,915,136. The business's 50 day simple moving average is $30.23 and its two-hundred day simple moving average is $34.01. The company has a market capitalization of $6.49 billion, a P/E ratio of 7.43, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a 12-month low of $24.96 and a 12-month high of $52.99.
Bath & Body Works (NYSE:BBWI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Equities research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.
Bath & Body Works Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.80 annualized dividend and a yield of 2.63%. Bath & Body Works's payout ratio is currently 21.98%.
Bath & Body Works declared that its board has approved a stock buyback plan on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.
About Bath & Body Works
(
Free Report)
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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