PharVision Advisers LLC Acquires Shares of 9,387 Bath & Body Works, Inc. (NYSE:BBWI)

PharVision Advisers LLC acquired a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,387 shares of the company's stock, valued at approximately $364,000.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 buying an additional 12,964 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Bath & Body Works by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock valued at $3,428,000 after buying an additional 4,625 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Bath & Body Works in the fourth quarter worth $258,000. Charles Schwab Investment Management Inc. raised its stake 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 valued at $66,088,000 after acquiring an additional 195,813 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Bath & Body Works in the fourth quarter worth $1,350,000. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BBWI. The Goldman Sachs Group lowered their price objective on Bath & Body Works from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird increased their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Wells Fargo & Company raised their price target on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. UBS Group increased their target price on Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Piper Sandler set a $39.00 price objective on Bath & Body Works and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $42.56.

Bath & Body Works Stock Down 0.4%

NYSE BBWI opened at $33.43 on Wednesday. The company has a 50-day simple moving average of $30.16 and a two-hundred day simple moving average of $34.03. Bath & Body Works, Inc. has a 12-month low of $24.96 and a 12-month high of $52.99. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 0.92 and a beta of 1.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Equities analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

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

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued 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 2.39%. Bath & Body Works's dividend payout ratio is currently 21.98%.

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.

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