Teza Capital Management LLC Purchases New Position in Bath & Body Works, Inc. (NYSE:BBWI)

Teza Capital Management LLC acquired a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,675 shares of the company’s stock, valued at approximately $336,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new position in shares of Bath & Body Works during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. boosted its position in Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after purchasing an additional 329 shares during the period. UMB Bank n.a. grew its holdings in Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after purchasing an additional 335 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after purchasing an additional 431 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Bath & Body Works by 135.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock valued at $39,000 after purchasing an additional 582 shares during the period. Institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BBWI. Robert W. Baird upped their price objective on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Barclays upped their price target on shares of Bath & Body Works from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday. Morgan Stanley dropped their price objective on Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. UBS Group boosted their price objective on Bath & Body Works from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Raymond James lowered their target price on Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.56.

Bath & Body Works Trading Down 0.4%

Shares of NYSE:BBWI opened at $33.43 on Wednesday. The business’s 50 day moving average is $30.16 and its 200-day moving average is $34.03. The firm has a market capitalization of $7.12 billion, a PE ratio of 8.15, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works, Inc. has a 1-year low of $24.96 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping 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 firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. On average, sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

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

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.39%. Bath & Body Works’s payout ratio is currently 21.98%.

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.