Bath & Body Works, Inc. (NYSE:BBWI) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC trimmed its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 90.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,004 shares of the company’s stock after selling 113,809 shares during the period. Redwood Investment Management LLC’s holdings in Bath & Body Works were worth $465,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Bath & Body Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock valued at $1,093,306,000 after acquiring an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Bath & Body Works by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company’s stock valued at $396,815,000 after acquiring an additional 422,973 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Bath & Body Works by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock valued at $329,317,000 after acquiring an additional 445,887 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Bath & Body Works by 35.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock valued at $200,768,000 after acquiring an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP grew its stake in Bath & Body Works by 38.3% during the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock worth $188,456,000 after buying an additional 1,346,752 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Stock Performance

NYSE:BBWI opened at $33.73 on Friday. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $52.99. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 0.92 and a beta of 1.87. The business has a fifty day moving average of $29.97 and a 200-day moving average of $33.93.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data 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. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. On average, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.37%. Bath & Body Works’s dividend payout ratio (DPR) is 21.98%.

Bath & Body Works announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Bath & Body Works from $47.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Cowen restated a “buy” rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Raymond James lowered their price objective on Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company upped their price objective on Bath & Body Works from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price objective on Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.69.

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.