Quadrant Capital Group LLC Increases Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Quadrant Capital Group LLC boosted its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 1,060.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,631 shares of the company’s stock after purchasing an additional 4,232 shares during the quarter. Quadrant Capital Group LLC’s holdings in Bath & Body Works were worth $180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBWI. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bath & Body Works by 32.6% in 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 bought a new position in Bath & Body Works during the third quarter valued at approximately $8,129,000. Charles Schwab Investment Management Inc. lifted its position in Bath & Body Works by 13.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company’s stock valued at $66,088,000 after purchasing an additional 195,813 shares during the period. New Age Alpha Advisors LLC bought a new position in Bath & Body Works during the fourth quarter valued at approximately $1,350,000. Finally, Bard Financial Services Inc. lifted its position in Bath & Body Works by 107.4% during the fourth quarter. Bard Financial Services Inc. now owns 26,750 shares of the company’s stock valued at $1,037,000 after purchasing an additional 13,850 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $30.06 on Thursday. The stock has a market cap of $6.44 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. The firm has a fifty day moving average price of $33.44 and a 200-day moving average price of $34.03. Bath & Body Works, Inc. has a 1 year low of $24.96 and a 1 year high of $52.99.

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, beating the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations 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 expect that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has authorized a stock buyback plan on Thursday, February 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is 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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 2.66%. Bath & Body Works’s payout ratio is 21.98%.

Analysts Set New Price Targets

BBWI has been the topic of a number of research analyst reports. Argus restated a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Telsey Advisory Group restated an “outperform” rating and set a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. Wells Fargo & Company upgraded shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $42.00 to $48.00 in a research report on Friday, January 10th. Citigroup decreased their price target on shares of Bath & Body Works from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. set a $47.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.06.

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.