Fmr LLC Has $118.26 Million Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Fmr LLC raised its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,050,189 shares of the company’s stock after acquiring an additional 534,062 shares during the quarter. Fmr LLC’s holdings in Bath & Body Works were worth $118,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BBWI. Quadrant Capital Group LLC grew its position in Bath & Body Works by 1,060.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,631 shares of the company’s stock worth $180,000 after acquiring an additional 4,232 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Bath & Body Works by 21.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 168,736 shares of the company’s stock valued at $6,542,000 after purchasing an additional 30,042 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Bath & Body Works by 3.2% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 412,722 shares of the company’s stock valued at $16,001,000 after buying an additional 12,781 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Bath & Body Works in the 4th quarter valued at approximately $2,629,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Bath & Body Works during the 4th quarter worth approximately $1,957,000. 95.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler upgraded shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $38.00 to $35.00 in a research report on Wednesday, April 9th. Citigroup lowered their target price on Bath & Body Works from $48.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Telsey Advisory Group reiterated an “outperform” rating and issued a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $42.00 to $48.00 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bath & Body Works from $47.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.69.

Bath & Body Works Price Performance

Shares of BBWI opened at $28.71 on Tuesday. The company has a market cap of $6.15 billion, a PE ratio of 7.00, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a one year low of $24.96 and a one year high of $52.99. The stock has a 50-day moving average of $32.79 and a 200-day moving average of $33.97.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s dividend payout ratio (DPR) is presently 21.98%.

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.