Sei Investments Co. Lowers Position in Bath & Body Works, Inc. (NYSE:BBWI)

Sei Investments Co. reduced its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 9.8% in the 4th quarter, HoldingsChannel reports. The firm owned 375,079 shares of the company’s stock after selling 40,743 shares during the period. Sei Investments Co.’s holdings in Bath & Body Works were worth $14,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BBWI. Golden State Wealth Management LLC purchased a new position in shares of Bath & Body Works during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its position in Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after acquiring an additional 329 shares in the last quarter. True Wealth Design LLC raised its position in Bath & Body Works by 5,270.0% in the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after acquiring an additional 1,054 shares in the last quarter. UMB Bank n.a. boosted its position in shares of 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 purchasing an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of 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 purchasing an additional 431 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BBWI shares. JPMorgan Chase & Co. set a $47.00 price objective on shares of Bath & Body Works in a report on Thursday, February 27th. Piper Sandler upped their price target on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Robert W. Baird lifted their price objective on Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Cowen reissued a “buy” rating on shares of Bath & Body Works in a report on Thursday, February 27th. Finally, Raymond James reaffirmed an “outperform” rating and set a $46.00 price target (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.06.

Bath & Body Works Stock Down 3.0 %

Shares of Bath & Body Works stock opened at $30.93 on Friday. Bath & Body Works, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $52.99. The business’s fifty day moving average is $35.21 and its two-hundred day moving average is $34.03. The firm has a market cap 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 released its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.05. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Equities research analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

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

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.59%. Bath & Body Works’s payout ratio is 21.98%.

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.