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

Wealthspire Advisors LLC bought a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,498 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds have also added to or reduced their stakes in BBWI. Golden State Wealth Management LLC purchased a new stake in shares of Bath & Body Works in the 4th quarter worth $26,000. True Wealth Design LLC increased its stake in shares of Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after purchasing an additional 1,054 shares in the last quarter. UMB Bank n.a. increased its stake 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bath & Body Works in the 3rd quarter worth $39,000. Finally, TD Private Client Wealth LLC increased its stake in shares of Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after purchasing an additional 331 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $35.95 on Friday. The firm has a fifty day moving average price of $37.76 and a 200 day moving average price of $34.08. Bath & Body Works, Inc. has a 1 year low of $26.20 and a 1 year high of $52.99. The stock 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 (NYSE:BBWI) last issued its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.78 billion. As a group, equities analysts expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has authorized a share repurchase plan on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.20 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. Bath & Body Works’s payout ratio is 19.51%.

Wall Street Analysts Forecast Growth

BBWI has been the subject of several recent analyst reports. Morgan Stanley dropped their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $48.00 in a report on Friday, January 10th. JPMorgan Chase & Co. raised shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $47.00 in a report on Tuesday, February 18th. TD Cowen increased their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, 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 report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.44.

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.