400,000 Shares in Bath & Body Works, Inc. (NYSE:BBWI) Bought by Shellback Capital LP

Shellback Capital LP bought a new position in Bath & Body Works, Inc. (NYSE:BBWI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 400,000 shares of the company’s stock, valued at approximately $15,508,000. Shellback Capital LP owned 0.18% of Bath & Body Works at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Bath & Body Works in the fourth quarter worth $26,000. SRS Capital Advisors Inc. lifted its position in 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 during the period. UMB Bank n.a. lifted 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 worth $35,000 after purchasing an additional 335 shares during the period. Lindbrook Capital LLC lifted its position in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Bath & Body Works by 135.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock worth $39,000 after purchasing an additional 582 shares during the period. 95.14% of the stock is owned by institutional investors.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $33.91 on Friday. Bath & Body Works, Inc. has a twelve month low of $24.96 and a twelve month high of $52.99. The firm has a market cap of $7.22 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87. The business has a fifty day moving average of $29.89 and a 200-day moving average of $33.89.

Bath & Body Works (NYSE:BBWI) last announced 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 analyst estimates of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. On average, analysts anticipate 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 approved a share buyback program on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group cut their price objective on Bath & Body Works from $49.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Piper Sandler raised Bath & Body Works from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $38.00 to $35.00 in a report on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on Bath & Body Works from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on Bath & Body Works from $47.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Citigroup cut their price objective on Bath & Body Works from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, April 7th. Four equities 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.com, Bath & Body Works has an average rating of “Moderate Buy” and a consensus price target of $41.69.

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.