Worldquant Millennium Advisors LLC Takes Position in Bath & Body Works, Inc. (NYSE:BBWI)

Worldquant Millennium Advisors LLC bought a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 175,950 shares of the company's stock, valued at approximately $6,822,000. Worldquant Millennium Advisors LLC owned approximately 0.08% of Bath & Body Works at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bath & Body Works by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company's stock worth $2,046,000 after purchasing an additional 12,964 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Bath & Body Works by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company's stock worth $3,428,000 after purchasing an additional 4,625 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in Bath & Body Works in the 4th quarter worth about $258,000. Charles Schwab Investment Management Inc. boosted its stake in Bath & Body Works by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company's stock worth $66,088,000 after purchasing an additional 195,813 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Bath & Body Works in the 4th quarter worth about $1,350,000. Institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BBWI shares. Barclays upped their price target on shares of Bath & Body Works from $31.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Cowen restated a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Citigroup upped their target price on shares of Bath & Body Works from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday. Telsey Advisory Group restated an "outperform" rating and set a $43.00 target price on shares of Bath & Body Works in a research note on Tuesday. 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 note 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $42.56.

Bath & Body Works Price Performance

BBWI stock opened at $31.14 on Thursday. Bath & Body Works, Inc. has a 1-year low of $24.96 and a 1-year high of $52.99. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 0.92 and a beta of 1.87. The business has a 50 day simple moving average of $30.19 and a two-hundred day simple moving average of $34.01.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, June 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.57%. Bath & Body Works's dividend payout ratio is currently 21.98%.

Bath & Body Works announced that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership 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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