Invesco Ltd. Purchases 130,972 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Invesco Ltd. raised its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 22.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 711,664 shares of the company’s stock after acquiring an additional 130,972 shares during the period. Invesco Ltd.’s holdings in Bath & Body Works were worth $27,591,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BBWI. Golden State Wealth Management LLC bought a new position in Bath & Body Works in the fourth quarter valued at about $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. grew 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 valued at $35,000 after acquiring an additional 335 shares during the period. Lindbrook Capital LLC increased its holdings in Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after acquiring an additional 431 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bath & Body Works during the 3rd quarter worth approximately $39,000. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $28.42 on Friday. The stock has a 50 day moving average price of $32.15 and a 200-day moving average price of $33.84. Bath & Body Works, Inc. has a one year low of $24.96 and a one year high of $52.99. The stock has a market cap of $6.09 billion, a price-to-earnings 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 announced its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.78 billion. Sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works announced that its Board of Directors has initiated a share buyback program on Thursday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Bath & Body Works Announces Dividend

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

Analyst Ratings Changes

BBWI has been the topic of several recent analyst reports. Barclays decreased their price objective 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. Piper Sandler upgraded Bath & Body Works from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $38.00 to $35.00 in a research report on Wednesday, April 9th. Raymond James dropped their price objective on Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday. Argus reissued a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Finally, Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $48.00 in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.13.

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.