Xponance Inc. Reduces Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Xponance Inc. cut its position in Bath & Body Works, Inc. (NYSE:BBWI) by 47.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,908 shares of the company’s stock after selling 8,953 shares during the quarter. Xponance Inc.’s holdings in Bath & Body Works were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BBWI. FMR LLC boosted its position in Bath & Body Works by 17,496.5% in the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after buying an additional 2,501,828 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Bath & Body Works in the third quarter worth about $50,483,000. Principal Financial Group Inc. boosted its holdings in Bath & Body Works by 328.7% in the third quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after purchasing an additional 820,379 shares during the last quarter. Verition Fund Management LLC grew its stake in Bath & Body Works by 111.8% during the 3rd quarter. Verition Fund Management LLC now owns 1,345,777 shares of the company’s stock valued at $42,957,000 after purchasing an additional 710,333 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Bath & Body Works during the 4th quarter worth approximately $26,491,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BBWI. Cowen reiterated a “buy” rating on shares of Bath & Body Works in a research note on Thursday, February 27th. JPMorgan Chase & Co. set a $47.00 price objective on shares of Bath & Body Works in a report on Thursday, February 27th. Raymond James restated an “outperform” rating and issued a $46.00 target price (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Barclays decreased their price target on Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, TD Cowen increased their target price on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.06.

Bath & Body Works Trading Down 1.1 %

Shares of NYSE:BBWI opened at $31.84 on Thursday. The firm’s 50 day moving average is $35.42 and its two-hundred day moving average is $34.02. The firm has a market capitalization of $6.82 billion, a P/E ratio of 7.77, a PEG ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a 52 week low of $26.21 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced 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 negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Bath & Body Works announced that its Board of Directors has approved a stock buyback program on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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.