Swiss National Bank Lowers Stock Position in Bath & Body Works, Inc. (NYSE:BBWI)

Swiss National Bank decreased its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 34.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 409,300 shares of the company’s stock after selling 219,800 shares during the period. Swiss National Bank owned approximately 0.19% of Bath & Body Works worth $15,869,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Bath & Body Works by 32.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company’s stock worth $2,046,000 after acquiring an additional 12,964 shares during the period. Wellington Management Group LLP acquired a new position in shares of Bath & Body Works during the 3rd quarter worth $8,129,000. Forest Avenue Capital Management LP increased its holdings in shares of Bath & Body Works by 19.1% in the 3rd quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company’s stock valued at $46,851,000 after purchasing an additional 235,173 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company’s stock valued at $66,088,000 after purchasing an additional 195,813 shares during the period. Finally, Anthracite Investment Company Inc. purchased a new stake in Bath & Body Works during the third quarter worth about $2,921,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Morgan Stanley reduced their price objective on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Robert W. Baird upped their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Finally, Raymond James reiterated 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, February 25th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.06.

Bath & Body Works Stock Down 0.9 %

Shares of NYSE:BBWI opened at $29.97 on Wednesday. The company has a market cap of $6.49 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.92 and a beta of 1.89. The business has a fifty day simple moving average of $36.10 and a 200-day simple moving average of $33.99. 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 posted its quarterly earnings data 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 company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Sell-side analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.67%. 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.