Wealth Enhancement Advisory Services LLC Acquires 19,297 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Wealth Enhancement Advisory Services LLC boosted its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 179.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,030 shares of the company's stock after buying an additional 19,297 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Bath & Body Works were worth $1,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Shufro Rose & Co. LLC purchased a new position in Bath & Body Works in the fourth quarter valued at approximately $343,000. American Trust acquired a new position in shares of Bath & Body Works in the 4th quarter valued at $205,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bath & Body Works in the 4th quarter valued at $2,920,000. Alpine Global Management LLC purchased a new position in shares of Bath & Body Works in the 4th quarter valued at $576,000. Finally, Northwest Bank & Trust Co raised its stake in Bath & Body Works by 2.9% during the 4th quarter. Northwest Bank & Trust Co now owns 14,700 shares of the company's stock worth $533,000 after acquiring an additional 419 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird raised 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. Raymond James cut their price target on Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Piper Sandler set a $39.00 price objective on Bath & Body Works and gave the company an "overweight" rating in a report on Thursday, May 15th. UBS Group raised their target price on shares of Bath & Body Works from $32.00 to $36.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Finally, The Goldman Sachs Group reduced their price target on shares of Bath & Body Works from $44.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $42.00.

Bath & Body Works Price Performance

Bath & Body Works stock traded down $0.17 during midday trading on Thursday, hitting $26.09. 4,445,358 shares of the stock were exchanged, compared to its average volume of 5,013,256. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $45.99. The company has a 50 day moving average price of $29.50 and a two-hundred day moving average price of $33.70. The firm has a market cap of $5.52 billion, a P/E ratio of 6.36, a P/E/G ratio of 0.92 and a beta of 1.72.

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, topping analysts' consensus estimates of $0.47 by $0.02. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business earned $0.38 EPS. The firm's revenue was up 2.9% on a year-over-year basis. As a group, analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, June 6th. This represents a $0.80 annualized dividend and a yield of 3.07%. Bath & Body Works's dividend payout ratio (DPR) is presently 21.33%.

Bath & Body Works announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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.