Hudson Bay Capital Management LP Acquires New Position in Bath & Body Works, Inc. (NYSE:BBWI)

Hudson Bay Capital Management LP acquired a new position in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 146,272 shares of the company's stock, valued at approximately $5,671,000. Hudson Bay Capital Management LP owned 0.07% of Bath & Body Works as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. boosted its holdings in Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock worth $26,000 after purchasing an additional 329 shares in the last quarter. UMB Bank n.a. boosted its holdings in Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after purchasing an additional 335 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after purchasing an additional 431 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Bath & Body Works by 135.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock worth $39,000 after purchasing an additional 582 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BBWI shares. Cowen reiterated a "buy" rating on shares of Bath & Body Works in a report on Thursday, February 27th. Piper Sandler upgraded shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $38.00 to $35.00 in a report on Wednesday, April 9th. Morgan Stanley dropped their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Citigroup dropped their target price on shares of Bath & Body Works from $48.00 to $36.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.69.

Bath & Body Works Stock Performance

Bath & Body Works stock traded down $0.24 during trading hours on Friday, hitting $33.73. 5,679,860 shares of the stock were exchanged, compared to its average volume of 4,822,324. The stock has a market capitalization of $7.18 billion, a P/E ratio of 8.23, a P/E/G ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a 12 month low of $24.96 and a 12 month high of $52.99. The business's 50-day moving average is $29.89 and its two-hundred day moving average is $33.89.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued 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 firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. On average, equities analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its Board of Directors has initiated a share buyback program on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Bath & Body Works Announces Dividend

The business 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.37%. Bath & Body Works's payout ratio is 21.98%.

About Bath & Body Works

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.