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Nuveen Asset Management LLC increased its stake in Bath & Body Works, Inc. (NYSE:BBWI – Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 764,195 shares of the company’s stock after purchasing an additional 27,136 shares during the quarter. Nuveen Asset Management LLC’s holdings in Bath & Body Works were worth $29,628,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of BBWI. Park Avenue Securities LLC bought a new stake in shares of Bath & Body Works in the 4th quarter worth approximately $270,000. UMB Bank n.a. raised its holdings 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 worth $35,000 after purchasing an additional 335 shares during the period. Missouri Trust & Investment Co raised its holdings in shares of Bath & Body Works by 7.2% in the 4th quarter. Missouri Trust & Investment Co now owns 39,570 shares of the company’s stock worth $1,534,000 after purchasing an additional 2,660 shares during the period. Janney Montgomery Scott LLC bought a new stake in Bath & Body Works in the 4th quarter valued at about $372,000. Finally, Avior Wealth Management LLC raised its stake in 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 acquiring an additional 453 shares during the period. Institutional investors own 95.14% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on BBWI shares. The Goldman Sachs Group lowered their price objective on Bath & Body Works from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Raymond James lowered their price objective on Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Piper Sandler set a $39.00 target price on shares of Bath & Body Works and gave the company an “overweight” rating in a report on Thursday, May 15th. Telsey Advisory Group reissued an “outperform” rating and set a $43.00 target price on shares of Bath & Body Works in a report on Tuesday. Finally, Cowen reissued a “buy” rating on shares of Bath & Body Works in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.56.
Get Our Latest Stock Report on BBWI
Bath & Body Works Stock Performance
Bath & Body Works stock opened at $31.14 on Thursday. The stock has a market cap of $6.63 billion, a P/E ratio of 7.60, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a fifty-two week low of $24.96 and a fifty-two week high of $52.99. The firm’s fifty day moving average price is $30.19 and its 200-day moving average price is $34.01.
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, topping the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion for 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 predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.
Bath & Body Works Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, June 6th. Bath & Body Works’s dividend payout ratio (DPR) is 21.98%.
Bath & Body Works declared that its board has approved a share buyback plan on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are 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.
Further Reading
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