ExodusPoint Capital Management LP Purchases 74,951 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

ExodusPoint Capital Management LP raised its position in Bath & Body Works, Inc. (NYSE:BBWI) by 156.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 122,998 shares of the company’s stock after acquiring an additional 74,951 shares during the period. ExodusPoint Capital Management LP’s holdings in Bath & Body Works were worth $4,769,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BBWI. Captrust Financial Advisors boosted its stake in shares of Bath & Body Works by 57.2% during the 3rd quarter. Captrust Financial Advisors now owns 16,059 shares of the company’s stock worth $513,000 after buying an additional 5,842 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Bath & Body Works by 31.2% during the third quarter. Quantinno Capital Management LP now owns 56,661 shares of the company’s stock worth $1,809,000 after acquiring an additional 13,485 shares in the last quarter. Wellington Management Group LLP acquired a new position in Bath & Body Works during the third quarter valued at approximately $8,129,000. iA Global Asset Management Inc. grew its stake in Bath & Body Works by 1,078.2% in the third quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company’s stock valued at $1,575,000 after purchasing an additional 45,144 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Bath & Body Works by 30.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 137,610 shares of the company’s stock worth $4,393,000 after purchasing an additional 32,233 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BBWI has been the subject of several recent analyst reports. Piper Sandler increased their price objective on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Citigroup raised shares of Bath & Body Works from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $48.00 in a research report on Friday, February 28th. Argus reaffirmed a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Telsey Advisory Group reiterated an “outperform” rating and set a $43.00 price target on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Robert W. Baird boosted their price target on Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.06.

Bath & Body Works Stock Performance

NYSE:BBWI opened at $27.11 on Monday. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 6.61, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works, Inc. has a 52 week low of $25.41 and a 52 week high of $52.99. The firm’s 50-day simple moving average is $34.45 and its 200 day simple moving average is $34.16.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. Sell-side analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s dividend payout ratio (DPR) is currently 21.98%.

Bath & Body Works announced that its board has authorized a stock buyback program on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is 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.