Cornerstone Investment Partners LLC Has $475,000 Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Cornerstone Investment Partners LLC lifted its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,248 shares of the company’s stock after buying an additional 452 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Bath & Body Works were worth $475,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its stake in shares of Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after buying an additional 329 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works during the 4th quarter worth about $26,000. UMB Bank n.a. raised its stake in Bath & Body Works by 58.8% in 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. Smartleaf Asset Management LLC raised its stake in Bath & Body Works by 135.0% in the 4th 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. Finally, True Wealth Design LLC raised its stake in Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after purchasing an additional 1,054 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Price Performance

BBWI opened at $35.38 on Tuesday. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 0.92 and a beta of 1.83. The company’s 50 day moving average price is $37.63 and its two-hundred day moving average price is $34.17.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share 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 for the quarter, compared to analyst estimates of $2.78 billion. As a group, equities research analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

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

Bath & Body Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 21st. Bath & Body Works’s payout ratio is 21.98%.

Analyst Ratings Changes

BBWI has been the subject of several analyst reports. TD Cowen lifted their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Raymond James reiterated an “outperform” rating and issued a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a research note on Tuesday, February 25th. Morgan Stanley dropped their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Robert W. Baird lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Bath & Body Works has an average 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.