Tremblant Capital Group Takes $6.89 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

Tremblant Capital Group acquired a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 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 hedge funds and other institutional investors have also recently bought and sold shares of BBWI. D1 Capital Partners L.P. purchased a new stake in shares of Bath & Body Works during the 4th quarter worth $109,797,000. Norges Bank purchased a new stake in shares of Bath & Body Works during the 4th quarter worth $73,572,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Bath & Body Works by 79.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock worth $150,507,000 after purchasing an additional 1,715,096 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock worth $200,768,000 after purchasing an additional 1,360,264 shares in the last quarter. Finally, Anomaly Capital Management LP boosted its position in shares of Bath & Body Works by 38.3% during the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company's stock worth $188,456,000 after purchasing an additional 1,346,752 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Stock Performance

BBWI stock traded down $1.11 during trading on Friday, hitting $30.27. The stock had a trading volume of 4,248,822 shares, compared to its average volume of 4,889,576. The company's 50 day moving average price is $30.22 and its two-hundred day moving average price is $34.00. Bath & Body Works, Inc. has a 1-year low of $24.96 and a 1-year high of $52.99. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. As a group, sell-side analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

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

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, June 6th. Bath & Body Works's dividend payout ratio is currently 21.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company boosted their target price on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Telsey Advisory Group restated an "outperform" rating and set a $43.00 target price on shares of Bath & Body Works in a research report on Tuesday. Cowen restated a "buy" rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Barclays boosted their price objective on shares of Bath & Body Works from $31.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Bath & Body Works presently has a consensus rating of "Moderate Buy" and an average price target 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.