Primecap Management Co. CA lowered its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,335,727 shares of the company's stock after selling 83,948 shares during the period. Primecap Management Co. CA owned approximately 2.46% of Bath & Body Works worth $206,866,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. SRS Capital Advisors Inc. grew its holdings in Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after buying an additional 329 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Bath & Body Works during the fourth quarter valued at approximately $26,000. UMB Bank n.a. increased its holdings in Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after acquiring an additional 335 shares during the period. Lindbrook Capital LLC lifted its stake in Bath & Body Works by 81.9% in the 4th 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 4th quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock valued at $39,000 after purchasing an additional 582 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.
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Bath & Body Works Trading Up 0.5 %
NYSE BBWI traded up $0.14 on Friday, hitting $30.24. 42,058,293 shares of the company traded hands, compared to its average volume of 4,264,684. The business's 50 day moving average price is $35.83 and its 200-day moving average price is $33.93. Bath & Body Works, Inc. has a 52-week low of $26.21 and a 52-week high of $52.99. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 7.38, a P/E/G ratio of 0.92 and a beta of 1.89.
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, beating analysts' consensus estimates of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. As a group, sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.
Bath & Body Works Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works's dividend payout ratio (DPR) is 21.98%.
Bath & Body Works announced that its Board of Directors has initiated a share buyback program on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on BBWI. Wells Fargo & Company raised shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $42.00 to $48.00 in a report on Friday, January 10th. Argus restated a "hold" rating on shares of Bath & Body Works in a research report on Friday, January 10th. Raymond James reiterated an "outperform" rating and issued a $46.00 price objective (up from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $43.00 target price on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Robert W. Baird raised their price target on Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.06.
Bath & Body Works Company Profile
(Free Report)
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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