Bath & Body Works, Inc. (NYSE:BBWI) Holdings Trimmed by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund trimmed its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,535 shares of the company’s stock after selling 1,065 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Bath & Body Works were worth $1,998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works during the 4th quarter valued at $26,000. True Wealth Design LLC boosted its stake in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 1,054 shares during the period. UMB Bank n.a. boosted its stake in shares of Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after buying an additional 335 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bath & Body Works during the 3rd quarter valued at $39,000. Finally, TD Private Client Wealth LLC boosted its stake in shares of 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 valued at $54,000 after buying an additional 331 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $36.22 on Friday. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 0.92 and a beta of 1.83. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The firm has a fifty day moving average price of $37.70 and a two-hundred day moving average price of $34.12.

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, topping analysts’ consensus estimates of $2.04 by $0.05. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, sell-side analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 2.21%. Bath & Body Works’s payout ratio is 19.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BBWI shares. Citigroup raised shares of Bath & Body Works from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $48.00 in a research note on Friday. Robert W. Baird lifted their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. set a $47.00 target price on shares of Bath & Body Works in a research note on Thursday. Barclays raised shares of Bath & Body Works from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $43.00 in a research note on Monday, February 24th. Finally, Piper Sandler lifted 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 note on Monday, January 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.38.

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.