177,743 Shares in Bath & Body Works, Inc. (NYSE:BBWI) Purchased by Tremblant Capital Group

Tremblant Capital Group bought a new position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 177,743 shares of the company's stock, valued at approximately $6,891,000. Tremblant Capital Group owned about 0.08% of Bath & Body Works at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Bath & Body Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company's stock worth $1,093,306,000 after acquiring an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Bath & Body Works by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company's stock worth $396,815,000 after acquiring an additional 422,973 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Bath & Body Works by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company's stock worth $329,317,000 after acquiring an additional 445,887 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Bath & Body Works by 35.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock worth $200,768,000 after acquiring an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP raised its holdings in shares of Bath & Body Works by 38.3% in the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock worth $188,456,000 after acquiring an additional 1,346,752 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Bath & Body Works Trading Up 0.6%

Shares of Bath & Body Works stock traded up $0.19 on Thursday, hitting $31.36. 4,085,295 shares of the company traded hands, compared to its average volume of 4,878,120. The firm's 50-day simple moving average is $30.19 and its 200 day simple moving average is $34.01. The company has a market cap of $6.68 billion, a P/E ratio of 7.65, a P/E/G 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 issued its earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works announced that its board has approved a stock repurchase 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 shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.55%. The ex-dividend date is Friday, June 6th. Bath & Body Works's payout ratio is currently 21.98%.

Wall Street Analyst Weigh In

BBWI has been the topic of a number of analyst reports. Barclays upped their target price on shares of Bath & Body Works from $31.00 to $35.00 and gave the stock an "equal weight" rating in a report on Tuesday. Wells Fargo & Company increased their price objective on shares of Bath & Body Works from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the company an "overweight" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. increased their price objective 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. Finally, Robert W. Baird boosted 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. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.56.

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.