Los Angeles Capital Management LLC Sells 87,374 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Los Angeles Capital Management LLC cut its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 64.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 47,170 shares of the company’s stock after selling 87,374 shares during the period. Los Angeles Capital Management LLC’s holdings in Bath & Body Works were worth $1,829,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after acquiring an additional 2,501,828 shares in the last quarter. KBC Group NV boosted its stake in Bath & Body Works by 9,023.5% in the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after purchasing an additional 1,683,160 shares during the period. Erste Asset Management GmbH bought a new position in Bath & Body Works during the 3rd quarter worth about $50,483,000. Senvest Management LLC acquired a new stake in shares of Bath & Body Works in the 3rd quarter valued at about $30,537,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Bath & Body Works by 328.7% in the third quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after purchasing an additional 820,379 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BBWI. Cowen reissued a “buy” rating on shares of Bath & Body Works in a research report on Thursday. Wells Fargo & Company upgraded shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $42.00 to $48.00 in a report on Friday, January 10th. Telsey Advisory Group restated an “outperform” rating and set a $43.00 target price on shares of Bath & Body Works in a report on Thursday. Argus reiterated a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Finally, Barclays upgraded shares of Bath & Body Works from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $34.00 to $43.00 in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Bath & Body Works presently has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Bath & Body Works Trading Up 1.0 %

Shares of NYSE BBWI opened at $36.22 on Friday. The company has a market capitalization of $7.84 billion, a P/E ratio of 8.83, a P/E/G ratio of 0.92 and a beta of 1.83. Bath & Body Works, Inc. has a 12 month low of $26.20 and a 12 month high of $52.99. The stock has a 50 day moving average of $37.70 and a 200-day moving average of $34.12.

Bath & Body Works (NYSE:BBWI) last released 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. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

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

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.21%. Bath & Body Works’s dividend payout ratio (DPR) is currently 19.51%.

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.