Fox Run Management L.L.C. Makes New Investment in Bath & Body Works, Inc. (NYSE:BBWI)

Fox Run Management L.L.C. purchased a new position in Bath & Body Works, Inc. (NYSE:BBWI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,817 shares of the company’s stock, valued at approximately $768,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in shares of Bath & Body Works in the 4th quarter valued at $1,648,000. Hillsdale Investment Management Inc. lifted its position in Bath & Body Works by 4.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 24,200 shares of the company’s stock worth $938,000 after acquiring an additional 1,000 shares during the period. American Century Companies Inc. increased its holdings in shares of Bath & Body Works by 29.7% in the fourth quarter. American Century Companies Inc. now owns 307,910 shares of the company’s stock valued at $11,938,000 after purchasing an additional 70,418 shares during the period. Sciencast Management LP purchased a new position in shares of Bath & Body Works in the fourth quarter worth about $3,025,000. Finally, TD Private Client Wealth LLC raised its stake in shares of Bath & Body Works by 34.9% in the fourth quarter. TD Private Client Wealth LLC now owns 2,290 shares of the company’s stock worth $89,000 after purchasing an additional 593 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

Shares of NYSE:BBWI opened at $30.24 on Monday. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth 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 $33.99. Bath & Body Works, Inc. has a 1 year low of $26.21 and a 1 year high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.05. The business 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 expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

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

Bath & Body Works Announces Dividend

The company 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. 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 2.65%. Bath & Body Works’s payout ratio is currently 21.98%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BBWI. Barclays cut their price target on shares of Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Raymond James reissued an “outperform” rating and set a $46.00 target price (up previously from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a report on Thursday, February 27th. Robert W. Baird lifted their price objective on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, TD Cowen boosted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bath & Body Works presently has an average rating of “Moderate Buy” and an average target price of $45.06.

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.