Twinbeech Capital LP Invests $11.92 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Twinbeech Capital LP acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 307,342 shares of the company's stock, valued at approximately $11,916,000. Twinbeech Capital LP owned 0.14% 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 made changes to their positions in the company. D1 Capital Partners L.P. acquired a new stake in Bath & Body Works in the 4th quarter valued at $109,797,000. Norges Bank acquired a new stake in Bath & Body Works in the 4th quarter valued at $73,572,000. Arrowstreet Capital Limited Partnership grew its stake in Bath & Body Works by 79.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock valued at $150,507,000 after acquiring an additional 1,715,096 shares during the period. Alliancebernstein L.P. grew its stake in Bath & Body Works by 35.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company's stock valued at $200,768,000 after acquiring an additional 1,360,264 shares during the period. Finally, Anomaly Capital Management LP grew its stake in 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 valued at $188,456,000 after acquiring an additional 1,346,752 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBWI. Barclays dropped their price target on shares of Bath & Body Works from $38.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Raymond James dropped their price target 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. Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Morgan Stanley reduced their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $42.06.

Bath & Body Works Stock Down 0.6%

NYSE BBWI opened at $33.56 on Tuesday. Bath & Body Works, Inc. has a 52 week low of $24.96 and a 52 week high of $52.99. The business's fifty day simple moving average is $30.05 and its 200-day simple moving average is $34.03. The firm has a market cap of $7.15 billion, a PE ratio of 8.19, a P/E/G ratio of 0.92 and a beta of 1.87.

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

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.20 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.80 annualized dividend and a yield of 2.38%. Bath & Body Works's dividend payout ratio (DPR) is currently 21.98%.

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

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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