Trexquant Investment LP Purchases New Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Trexquant Investment LP acquired a new position in Bath & Body Works, Inc. (NYSE:BBWI) in the 4th quarter, HoldingsChannel reports. The fund acquired 80,612 shares of the company’s stock, valued at approximately $3,125,000.

Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bath & Body Works by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company’s stock worth $2,046,000 after acquiring an additional 12,964 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Bath & Body Works during the third quarter worth $8,129,000. Charles Schwab Investment Management Inc. lifted its position in shares of Bath & Body Works by 13.0% during the fourth 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 during the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Bath & Body Works by 1,078.2% during the third quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company’s stock valued at $1,575,000 after purchasing an additional 45,144 shares during the period. Finally, New Age Alpha Advisors LLC purchased 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.

Wall Street Analyst Weigh In

BBWI has been the subject of several research reports. Barclays lowered their price objective on shares of Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Raymond James reissued an “outperform” rating and issued a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. TD Cowen lifted their target price on Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup raised Bath & Body Works from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research report on Friday, February 28th. Finally, Robert W. Baird lifted their price objective on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.06.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $27.11 on Monday. The stock’s 50-day simple moving average is $34.45 and its 200-day simple moving average is $34.16. The firm has a market capitalization of $5.81 billion, a PE ratio of 6.61, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.04 by $0.05. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Sell-side analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s dividend payout ratio (DPR) is 21.98%.

Bath & Body Works announced that its board has approved a stock buyback program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.