Shelton Capital Management Purchases Shares of 8,717 Bath & Body Works, Inc. (NYSE:BBWI)

Shelton Capital Management acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,717 shares of the company’s stock, valued at approximately $338,000.

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

Analyst Upgrades and Downgrades

BBWI has been the subject of a number of research analyst reports. Piper Sandler upgraded Bath & Body Works from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $38.00 to $35.00 in a report on Wednesday. Telsey Advisory Group restated an “outperform” rating and issued a $43.00 price target on shares of Bath & Body Works in a research note on Thursday, February 27th. JPMorgan Chase & Co. set a $47.00 price objective on Bath & Body Works in a research report on Thursday, February 27th. Argus reissued a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Finally, TD Cowen raised their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.06.

Bath & Body Works Stock Down 8.0 %

NYSE BBWI opened at $27.60 on Friday. Bath & Body Works, Inc. has a twelve month low of $24.96 and a twelve month high of $52.99. The business’s fifty day moving average is $33.24 and its 200 day moving average is $34.01. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 6.73, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. On average, research analysts anticipate that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.90%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s dividend payout ratio (DPR) is currently 21.98%.

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

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.