KLP Kapitalforvaltning AS Invests $1.65 Million in Bath & Body Works, Inc. (NYSE:BBWI)

KLP Kapitalforvaltning AS acquired a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,500 shares of the company’s stock, valued at approximately $1,648,000.

A number of other institutional investors have also recently added to or reduced their stakes in BBWI. SRS Capital Advisors Inc. grew its position in Bath & Body Works by 99.7% in the 4th 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 last quarter. Golden State Wealth Management LLC bought a new position in Bath & Body Works in the 4th quarter worth approximately $26,000. UMB Bank n.a. raised 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 valued at $35,000 after acquiring an additional 335 shares in the last quarter. Lindbrook Capital LLC boosted its position 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 acquiring an additional 431 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of 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 in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Trading Down 3.0 %

BBWI stock opened at $30.93 on Friday. Bath & Body Works, Inc. has a one year low of $26.21 and a one year high of $52.99. The firm has a 50-day moving average of $35.21 and a two-hundred day moving average of $34.03. The firm has a market capitalization of $6.63 billion, a PE ratio of 7.54, a P/E/G ratio of 0.92 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last posted 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. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. On average, equities research analysts anticipate 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 approved a share buyback program on Thursday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Bath & Body Works Dividend Announcement

The firm also recently declared 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. 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 2.59%. Bath & Body Works’s dividend payout ratio is 21.98%.

Analyst Upgrades and Downgrades

BBWI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $47.00 price objective on shares of Bath & Body Works in a research note on Thursday, February 27th. Robert W. Baird upped their price target on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Cowen reiterated a “buy” rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Finally, TD Cowen boosted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.