Yousif Capital Management LLC Lowers Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Yousif Capital Management LLC lowered its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 10.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,294 shares of the company’s stock after selling 8,747 shares during the quarter. Yousif Capital Management LLC’s holdings in Bath & Body Works were worth $2,374,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. D1 Capital Partners L.P. purchased a new stake in Bath & Body Works in the fourth quarter valued at approximately $109,797,000. Norges Bank purchased a new stake in shares of Bath & Body Works in the 4th quarter valued at $73,572,000. Arrowstreet Capital Limited Partnership lifted its stake in Bath & Body Works by 79.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company’s stock worth $150,507,000 after acquiring an additional 1,715,096 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Bath & Body Works by 35.6% during 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 period. Finally, Anomaly Capital Management LP grew its position in Bath & Body Works by 38.3% in the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock valued at $188,456,000 after acquiring an additional 1,346,752 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BBWI. Telsey Advisory Group reissued an “outperform” rating and issued a $38.00 price objective (down previously from $43.00) on shares of Bath & Body Works in a research note on Thursday, May 29th. The Goldman Sachs Group decreased their price target on shares of Bath & Body Works from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Raymond James dropped their price target on shares of 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. Piper Sandler set a $39.00 price objective on Bath & Body Works and gave the company an “overweight” rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company boosted their target price on Bath & Body Works from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Four investment 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, Bath & Body Works has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Bath & Body Works Trading Down 3.7%

BBWI stock opened at $25.13 on Friday. The stock has a market cap of $5.32 billion, a P/E ratio of 6.13, a PEG ratio of 0.92 and a beta of 1.72. Bath & Body Works, Inc. has a twelve month low of $24.94 and a twelve month high of $43.08. The company’s 50 day moving average is $29.48 and its two-hundred day moving average is $33.55.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business earned $0.38 EPS. Bath & Body Works’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Friday, June 6th. Bath & Body Works’s dividend payout ratio is currently 21.33%.

Bath & Body Works declared that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

About Bath & Body Works

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.