Lecap Asset Management Ltd. Acquires New Position in Bath & Body Works, Inc. (NYSE:BBWI)

Lecap Asset Management Ltd. acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 41,201 shares of the company's stock, valued at approximately $1,778,000.

Several other large investors also recently bought and sold shares of BBWI. Front Row Advisors LLC purchased a new stake in shares of Bath & Body Works in the third quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new stake in shares of Bath & Body Works in the third quarter valued at approximately $27,000. Denali Advisors LLC purchased a new stake in shares of Bath & Body Works in the fourth quarter valued at approximately $27,000. Money Concepts Capital Corp grew its position in shares of Bath & Body Works by 1,180.4% in the fourth quarter. Money Concepts Capital Corp now owns 653 shares of the company's stock valued at $28,000 after purchasing an additional 602 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Bath & Body Works in the fourth quarter valued at approximately $35,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BBWI. Wells Fargo & Company upped their price target on Bath & Body Works from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, March 1st. BMO Capital Markets upped their price objective on Bath & Body Works from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Piper Sandler upped their price objective on Bath & Body Works from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Tuesday. The Goldman Sachs Group upped their price objective on Bath & Body Works from $49.00 to $56.00 and gave the company a "buy" rating in a report on Monday, March 4th. Finally, TD Cowen upped their price objective on Bath & Body Works from $35.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Bath & Body Works currently has a consensus rating of "Hold" and a consensus price target of $46.33.

Bath & Body Works Stock Down 2.2 %

NYSE:BBWI traded down $1.00 during trading hours on Friday, reaching $45.22. 2,436,982 shares of the stock were exchanged, compared to its average volume of 2,480,894. The business has a 50-day moving average of $46.15 and a two-hundred day moving average of $39.76. Bath & Body Works, Inc. has a twelve month low of $27.30 and a twelve month high of $50.34. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.50 and a beta of 1.86.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.21. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.84 billion. Bath & Body Works had a negative return on equity of 37.01% and a net margin of 11.82%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. On average, research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, February 22nd. Bath & Body Works's payout ratio is currently 20.78%.

Insider Activity

In other news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total value of $209,493.65. Following the sale, the insider now directly owns 45,992 shares in the company, valued at $2,248,548.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.