67,809 Shares in Bath & Body Works, Inc. (NYSE:BBWI) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 67,809 shares of the company’s stock, valued at approximately $2,629,000. Bath & Body Works makes up 0.4% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 15th largest holding.

A number of other hedge funds have also made changes to their positions in BBWI. Vanguard Group Inc. grew its stake in shares of Bath & Body Works by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock worth $1,093,306,000 after purchasing an additional 208,036 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock valued at $200,768,000 after acquiring an additional 1,360,264 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bath & Body Works by 79.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company’s stock worth $150,507,000 after acquiring an additional 1,715,096 shares in the last quarter. FMR LLC raised its position in shares of Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after purchasing an additional 2,501,828 shares during the period. Finally, Norges Bank purchased a new stake in shares of Bath & Body Works during the fourth quarter valued at $73,572,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Stock Performance

NYSE:BBWI opened at $27.11 on Friday. The company has a market capitalization of $5.81 billion, a P/E ratio of 6.61, a P/E/G ratio of 0.92 and a beta of 1.69. The stock’s 50 day moving average price is $34.45 and its 200 day moving average price is $34.10. Bath & Body Works, Inc. has a 52 week low of $25.41 and a 52 week high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced 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 company 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%. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. Bath & Body Works’s dividend payout ratio is currently 21.98%.

Bath & Body Works declared that its Board of Directors has approved a share buyback plan on Thursday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BBWI shares. Argus reaffirmed a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Citigroup raised Bath & Body Works from a “neutral” rating to a “buy” rating and raised their target price for the stock from $40.00 to $48.00 in a research report on Friday, February 28th. Barclays dropped their price target on Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. set a $47.00 price objective on Bath & Body Works in a research note on Thursday, February 27th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $43.00 target price on shares of Bath & Body Works in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.