Wealthspire Advisors LLC Buys Shares of 5,498 Bath & Body Works, Inc. (NYSE:BBWI)

Wealthspire Advisors LLC acquired a new position in Bath & Body Works, Inc. (NYSE:BBWI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,498 shares of the company’s stock, valued at approximately $213,000.

Several other large investors have also recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC increased its stake in Bath & Body Works by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,982 shares of the company’s stock worth $271,000 after buying an additional 324 shares during the period. TD Private Client Wealth LLC increased its stake in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after buying an additional 331 shares during the period. UMB Bank n.a. increased its position in shares of Bath & Body Works by 58.8% in the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after purchasing an additional 335 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Bath & Body Works by 30.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,950 shares of the company’s stock valued at $76,000 after purchasing an additional 453 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Bath & Body Works in the 4th quarter valued at approximately $26,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BBWI shares. Raymond James reissued an “outperform” rating and issued a $46.00 price objective (up from $42.00) on shares of Bath & Body Works in a research report on Tuesday. Piper Sandler increased their price objective on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Cowen reissued a “buy” rating on shares of Bath & Body Works in a research report on Thursday. Morgan Stanley dropped their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Finally, Argus restated a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Bath & Body Works currently has a consensus rating of “Moderate Buy” and an average price target of $44.44.

Bath & Body Works Trading Down 12.5 %

Shares of NYSE:BBWI opened at $35.95 on Friday. The company has a fifty day simple moving average of $37.76 and a 200 day simple moving average of $34.08. The firm has a market cap of $7.79 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 0.92 and a beta of 1.83. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.78 billion. As a group, equities research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, February 21st. Bath & Body Works’s dividend payout ratio (DPR) is 19.51%.

Bath & Body Works announced that its board has authorized a stock repurchase program on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership 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.