Synovus Financial Corp Has $1.19 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

Synovus Financial Corp lessened its position in Bath & Body Works, Inc. (NYSE:BBWI) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,690 shares of the company’s stock after selling 1,755 shares during the quarter. Synovus Financial Corp’s holdings in Bath & Body Works were worth $1,190,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of BBWI. Golden State Wealth Management LLC bought a new position in shares of Bath & Body Works during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its position in shares of Bath & Body Works by 99.7% in 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 in the last quarter. UMB Bank n.a. grew its position in Bath & Body Works by 58.8% in 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 in the last quarter. Lindbrook Capital LLC increased its stake in Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after buying an additional 431 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works during the 3rd quarter worth about $39,000. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Trading Down 3.5 %

Shares of NYSE BBWI opened at $27.66 on Wednesday. The firm has a market cap of $5.92 billion, a P/E ratio of 6.75, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. The business’s 50 day moving average is $32.60 and its 200-day moving average is $33.93. 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 data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.05. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s dividend payout ratio is currently 21.98%.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BBWI. Robert W. Baird lifted their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Raymond James reiterated an “outperform” rating and set a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of Bath & Body Works from $47.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Four 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 an average rating of “Moderate Buy” and a consensus target price of $43.69.

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.