Worldquant Millennium Advisors LLC Acquires Shares of 175,950 Bath & Body Works, Inc. (NYSE:BBWI)

Worldquant Millennium Advisors LLC bought a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 175,950 shares of the company's stock, valued at approximately $6,822,000. Worldquant Millennium Advisors LLC owned 0.08% of Bath & Body Works as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. D1 Capital Partners L.P. bought a new stake in Bath & Body Works in the 4th quarter valued at about $109,797,000. Norges Bank bought a new stake in Bath & Body Works in the 4th quarter valued at about $73,572,000. Arrowstreet Capital Limited Partnership boosted its holdings 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 purchasing an additional 1,715,096 shares during the period. Alliancebernstein L.P. boosted its holdings 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 purchasing an additional 1,360,264 shares during the period. Finally, Anomaly Capital Management LP boosted its holdings 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 purchasing an additional 1,346,752 shares during the period. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BBWI. Wells Fargo & Company boosted their price objective on shares of Bath & Body Works from $40.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Raymond James cut their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Morgan Stanley dropped 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. Robert W. Baird boosted their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Finally, Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the company an "overweight" rating in a research report on Thursday, May 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Bath & Body Works presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.56.

Bath & Body Works Stock Up 1.3%

NYSE BBWI traded up $0.40 on Tuesday, hitting $30.67. The company's stock had a trading volume of 1,505,687 shares, compared to its average volume of 4,870,461. Bath & Body Works, Inc. has a 1-year low of $24.96 and a 1-year high of $52.99. The company's 50-day moving average is $30.22 and its 200 day moving average is $34.03. The firm has a market cap of $6.53 billion, a PE ratio of 7.48, a PEG ratio of 0.92 and a beta of 1.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping 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 company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.78 billion. On average, equities analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has authorized a share repurchase plan on Thursday, February 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The business also recently announced 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 2.61%. The ex-dividend date is Friday, June 6th. Bath & Body Works's dividend payout ratio is presently 21.98%.

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.