Fox Run Management L.L.C. Acquires Shares of 19,817 Bath & Body Works, Inc. (NYSE:BBWI)

Fox Run Management L.L.C. bought a new position in Bath & Body Works, Inc. (NYSE:BBWI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 19,817 shares of the company’s stock, valued at approximately $768,000.

Several other institutional investors and hedge funds have also made changes to their positions in BBWI. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Bath & Body Works by 32.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company’s stock worth $2,046,000 after buying an additional 12,964 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Bath & Body Works in the 3rd quarter worth $8,129,000. Forest Avenue Capital Management LP raised its holdings in shares of Bath & Body Works by 19.1% during the 3rd quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company’s stock worth $46,851,000 after acquiring an additional 235,173 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Bath & Body Works by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company’s stock valued at $66,088,000 after acquiring an additional 195,813 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of 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 during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $42.00 to $48.00 in a research note on Friday, January 10th. Barclays decreased their price objective on 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. JPMorgan Chase & Co. set a $47.00 price target on Bath & Body Works in a research note on Thursday, February 27th. Finally, Raymond James reissued 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 research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.06.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $30.24 on Monday. Bath & Body Works, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $52.99. The company has a 50 day moving average price of $35.70 and a 200 day moving average price of $33.99. The stock has a market capitalization of $6.48 billion, a P/E ratio of 7.38, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $2.04 by $0.05. The business 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%. On average, research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

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

Bath & Body Works announced that its board has authorized a share buyback program on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits 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 believes its shares are 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.