Prudential Financial Inc. Boosts Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Prudential Financial Inc. boosted its position in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 732,008 shares of the company’s stock after purchasing an additional 52,471 shares during the period. Prudential Financial Inc.’s holdings in Bath & Body Works were worth $28,380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BBWI. SRS Capital Advisors Inc. grew its holdings in shares of Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after buying an additional 329 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Bath & Body Works during the 4th quarter valued at $26,000. UMB Bank n.a. increased its holdings in shares of 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. Lindbrook Capital LLC raised its stake in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Bath & Body Works by 135.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock valued at $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 0.7 %

NYSE BBWI opened at $32.19 on Wednesday. Bath & Body Works, Inc. has a 12 month low of $26.21 and a 12 month high of $52.99. The stock has a market cap of $6.90 billion, a PE ratio of 7.85, a P/E/G ratio of 0.92 and a beta of 1.89. The stock’s 50 day moving average is $35.52 and its 200 day moving average is $34.03.

Bath & Body Works (NYSE:BBWI) last released its 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 firm had revenue of $2.79 billion for 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, analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s dividend payout ratio (DPR) is presently 21.98%.

Bath & Body Works announced that its board has approved a share repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. set a $47.00 target price on Bath & Body Works in a research report on Thursday, February 27th. Barclays decreased their price objective on shares of Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. TD Cowen raised their target price on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $43.00 target price on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Raymond James reissued an “outperform” rating and set a $46.00 price target (up from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.