Bath & Body Works, Inc. (NYSE:BBWI) Shares Bought by Anomaly Capital Management LP

Anomaly Capital Management LP grew its stake in Bath & Body Works, Inc. (NYSE:BBWI) by 38.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,860,876 shares of the company’s stock after acquiring an additional 1,346,752 shares during the quarter. Bath & Body Works makes up approximately 5.6% of Anomaly Capital Management LP’s investment portfolio, making the stock its 8th biggest position. Anomaly Capital Management LP’s holdings in Bath & Body Works were worth $188,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its holdings in Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after acquiring an additional 329 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Bath & Body Works during the 4th quarter worth about $26,000. UMB Bank n.a. boosted its stake in shares of 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 during the period. Lindbrook Capital LLC increased its stake in Bath & Body Works by 81.9% during the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after buying an additional 431 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Bath & Body Works by 135.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock worth $39,000 after acquiring an additional 582 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler upgraded Bath & Body Works from a “neutral” rating to an “overweight” rating and cut their price target for the company from $38.00 to $35.00 in a research note on Wednesday, April 9th. Citigroup dropped their price objective on Bath & Body Works from $48.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Robert W. Baird raised their price target on Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Raymond James cut their target price on shares of Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Finally, Barclays dropped 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 note on Monday, March 3rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus price target of $43.13.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $27.78 on Tuesday. The company has a market capitalization of $5.95 billion, a PE ratio of 6.78, a P/E/G ratio of 0.92 and a beta of 1.69. The company’s fifty day moving average is $31.98 and its 200-day moving average is $33.88. Bath & Body Works, Inc. has a 52 week low of $24.96 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion during 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%. On average, analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has initiated a share buyback program on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. Bath & Body Works’s dividend payout ratio is 21.98%.

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.