Quadrant Capital Group LLC Purchases 4,232 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Quadrant Capital Group LLC lifted its position in Bath & Body Works, Inc. (NYSE:BBWI) by 1,060.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,631 shares of the company’s stock after acquiring an additional 4,232 shares during the quarter. Quadrant Capital Group LLC’s holdings in Bath & Body Works were worth $180,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Bath & Body Works by 21.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 168,736 shares of the company’s stock valued at $6,542,000 after buying an additional 30,042 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Bath & Body Works by 3.2% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 412,722 shares of the company’s stock valued at $16,001,000 after buying an additional 12,781 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Bath & Body Works during the 4th quarter valued at about $2,629,000. Landscape Capital Management L.L.C. bought a new stake in Bath & Body Works during the 4th quarter valued at about $1,957,000. Finally, ExodusPoint Capital Management LP lifted its holdings in Bath & Body Works by 156.0% during the 4th quarter. ExodusPoint Capital Management LP now owns 122,998 shares of the company’s stock valued at $4,769,000 after buying an additional 74,951 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

Shares of NYSE BBWI opened at $30.06 on Thursday. The firm has a market cap of $6.44 billion, a PE ratio of 7.33, a PEG ratio of 0.92 and a beta of 1.69. The firm has a fifty day moving average of $33.44 and a 200 day moving average of $34.03. Bath & Body Works, Inc. has a one year low of $24.96 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. On average, equities analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

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

Bath & Body Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Analyst Ratings Changes

BBWI has been the topic of a number of research reports. Cowen reissued a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Robert W. Baird raised their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. TD Cowen raised their target price on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Raymond James reissued an “outperform” rating and set a $46.00 target price (up previously from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Finally, Barclays cut their target price on shares of Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.06.

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.