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

Wealth Enhancement Advisory Services LLC boosted its position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 179.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,030 shares of the company's stock after purchasing an additional 19,297 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Bath & Body Works were worth $1,164,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in shares of Bath & Body Works during the fourth quarter worth about $372,000. Choreo LLC acquired a new position in shares of Bath & Body Works in the fourth quarter valued at approximately $206,000. Golden State Wealth Management LLC bought a new position in shares of Bath & Body Works during the fourth quarter worth approximately $26,000. Wilmington Savings Fund Society FSB increased its stake in shares of Bath & Body Works by 142.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,986 shares of the company's stock worth $116,000 after purchasing an additional 1,752 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Bath & Body Works by 23.8% during the 4th quarter. Empowered Funds LLC now owns 32,753 shares of the company's stock worth $1,270,000 after purchasing an additional 6,291 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Bath & Body Works Trading Up 0.2%

BBWI opened at $26.64 on Monday. The company has a market cap of $5.64 billion, a P/E ratio of 6.50, a PEG ratio of 0.92 and a beta of 1.72. The company's 50 day moving average is $29.64 and its 200-day moving average is $33.83. Bath & Body Works, Inc. has a 1-year low of $24.96 and a 1-year high of $46.36.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. On average, equities analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS 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 purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The company also recently declared 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 3.00%. The ex-dividend date of this dividend is Friday, June 6th. Bath & Body Works's payout ratio is 21.33%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their price objective on Bath & Body Works from $44.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Raymond James decreased 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 report on Thursday, February 27th. Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, UBS Group increased 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. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.00.

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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