Brant Point Investment Management LLC Invests $5.04 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Brant Point Investment Management LLC acquired a new position in Bath & Body Works, Inc. (NYSE:BBWI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 130,000 shares of the company’s stock, valued at approximately $5,040,000.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Bath & Body Works in the 4th quarter worth $26,000. SRS Capital Advisors Inc. raised its stake 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 buying an additional 329 shares during the period. UMB Bank n.a. lifted its position 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 valued at $35,000 after buying an additional 335 shares in the last quarter. Lindbrook Capital LLC grew its stake 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 valued at $37,000 after acquiring an additional 431 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bath & Body Works during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Bath & Body Works from $47.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday. Raymond James decreased their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $43.00 target price on shares of Bath & Body Works in a report on Thursday, February 27th. Barclays decreased their price target on Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Finally, Citigroup dropped their price objective on Bath & Body Works from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.13.

Bath & Body Works Stock Performance

BBWI stock opened at $28.42 on Friday. The firm has a fifty day moving average price of $32.29 and a 200 day moving average price of $33.86. Bath & Body Works, Inc. has a fifty-two week low of $24.96 and a fifty-two week high of $52.99. The firm has a market cap of $6.09 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Thursday, February 27th. The company reported $2.09 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 analysts’ expectations of $2.78 billion. On average, equities analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a dividend of $0.20 per share. The ex-dividend date was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.81%. Bath & Body Works’s payout ratio is currently 21.98%.

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