Sciencast Management LP Invests $3.03 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Sciencast Management LP purchased a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 78,036 shares of the company’s stock, valued at approximately $3,025,000.

Several other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Bath & Body Works during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted 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 valued at $26,000 after buying an additional 329 shares during the period. True Wealth Design LLC grew its position in Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares in the last quarter. UMB Bank n.a. increased its stake in Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after acquiring an additional 335 shares during the period. Finally, Lindbrook Capital LLC raised 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 valued at $37,000 after acquiring an additional 431 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Trading Up 0.5 %

Shares of BBWI stock opened at $30.24 on Friday. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 0.92 and a beta of 1.89. The business’s 50-day moving average price is $35.70 and its 200-day moving average price is $33.93. Bath & Body Works, Inc. has a 12 month low of $26.21 and a 12 month high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.05. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. On average, sell-side analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.65%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s payout ratio is presently 21.98%.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Cowen reissued a “buy” rating on shares of Bath & Body Works in a report on Thursday, February 27th. Barclays reduced 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. Robert W. Baird boosted their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Citigroup upgraded shares of Bath & Body Works from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research report on Friday, February 28th. Finally, Raymond James restated an “outperform” rating and set a $46.00 price objective (up from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Bath & Body Works presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.06.

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.