Public Employees Retirement System of Ohio Acquires Shares of 75,305 Bath & Body Works, Inc. (NYSE:BBWI)

Public Employees Retirement System of Ohio purchased a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 75,305 shares of the company's stock, valued at approximately $2,920,000.

Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Bath & Body Works during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its holdings 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 in the last quarter. Lindbrook Capital LLC lifted its holdings 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 in the last quarter. Smartleaf Asset Management LLC boosted its position in Bath & Body Works by 135.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock valued at $39,000 after buying an additional 582 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Bath & Body Works by 109.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,629 shares of the company's stock valued at $63,000 after buying an additional 852 shares during the period. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley cut their price target 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. Robert W. Baird boosted their price objective on Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Piper Sandler set a $39.00 price target on shares of Bath & Body Works and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Finally, Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Bath & Body Works currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Bath & Body Works Stock Up 2.0%

Shares of BBWI traded up $0.54 during trading hours on Tuesday, hitting $27.27. The company had a trading volume of 3,417,847 shares, compared to its average volume of 5,012,831. 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 $5.81 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 0.92 and a beta of 1.87. The business has a fifty day moving average of $29.97 and a 200-day moving average of $33.94.

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

Bath & Body Works declared that its Board of Directors has initiated a share buyback program on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, June 6th. Bath & Body Works's dividend payout ratio (DPR) is 21.33%.

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.