OLD National Bancorp IN Purchases 38,060 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

OLD National Bancorp IN increased its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 342,522 shares of the company's stock after purchasing an additional 38,060 shares during the quarter. OLD National Bancorp IN owned 0.16% of Bath & Body Works worth $10,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in shares of Bath & Body Works in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. increased its stake in Bath & Body Works by 99.7% in the 4th 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 increased its stake in Bath & Body Works by 81.9% in 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 period. Smartleaf Asset Management LLC lifted its position in Bath & Body Works by 135.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock valued at $39,000 after purchasing an additional 582 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Bath & Body Works by 65.9% during the first quarter. UMB Bank n.a. now owns 1,501 shares of the company's stock valued at $46,000 after purchasing an additional 596 shares during the period. 95.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BBWI. Barclays dropped 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 research report on Friday, May 30th. 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. UBS Group boosted their price target on Bath & Body Works from $32.00 to $36.00 and gave the company a "neutral" rating in a report on Tuesday, May 20th. The Goldman Sachs Group dropped their price objective on Bath & Body Works from $44.00 to $43.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Robert W. Baird upped their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Bath & Body Works Price Performance

NYSE:BBWI traded down $0.38 during mid-day trading on Wednesday, hitting $26.27. 4,100,485 shares of the company's stock were exchanged, compared to its average volume of 5,008,138. The company has a market cap of $5.56 billion, a PE ratio of 6.41, a P/E/G ratio of 0.92 and a beta of 1.72. Bath & Body Works, Inc. has a one year low of $24.96 and a one year high of $45.99. The business has a fifty day moving average price of $29.52 and a 200 day moving average price of $33.75.

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

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued 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 3.05%. Bath & Body Works's payout ratio is presently 21.33%.

Bath & Body Works declared that its board has initiated a stock repurchase program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Bath & Body Works Company 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.