Tidal Investments LLC Has $985,000 Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Tidal Investments LLC trimmed its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 56.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,397 shares of the company's stock after selling 32,828 shares during the period. Tidal Investments LLC's holdings in Bath & Body Works were worth $985,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Teza Capital Management LLC bought a new position in Bath & Body Works in the 4th quarter worth approximately $336,000. State of Wyoming increased its stake in shares of Bath & Body Works by 406.9% in the 4th quarter. State of Wyoming now owns 7,269 shares of the company's stock valued at $282,000 after buying an additional 5,835 shares during the period. Scientech Research LLC bought a new stake in shares of Bath & Body Works during the fourth quarter worth $1,210,000. Shellback Capital LP bought a new stake in shares of Bath & Body Works during the fourth quarter worth $15,508,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bath & Body Works during the fourth quarter valued at $1,501,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Price Performance

NYSE:BBWI traded down $2.13 during trading hours on Thursday, reaching $28.36. 8,636,568 shares of the stock were exchanged, compared to its average volume of 5,001,102. The stock has a market cap of $6.04 billion, a PE ratio of 6.92, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a twelve month low of $24.96 and a twelve month high of $52.99. The firm has a 50 day moving average of $30.23 and a 200 day moving average of $33.98.

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 the consensus estimate of $0.47 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.42 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. Equities research analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its board has authorized a stock repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management 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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, June 6th. Bath & Body Works's dividend payout ratio (DPR) is 21.98%.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Bath & Body Works from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Raymond James reduced their target price on shares of 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. 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. The Goldman Sachs Group cut their price objective on shares of Bath & Body Works from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup raised their price objective on shares of Bath & Body Works from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Four 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 presently has an average rating of "Moderate Buy" and a consensus price target of $42.56.

Bath & Body Works 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.