Snowden Capital Advisors LLC Lowers Stake in Bath & Body Works, Inc. (NYSE:BBWI)

Snowden Capital Advisors LLC reduced its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 8.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,732 shares of the company’s stock after selling 998 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Bath & Body Works were worth $416,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bath & Body Works by 32.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company’s stock valued at $2,046,000 after purchasing an additional 12,964 shares during the period. PNC Financial Services Group Inc. lifted its stake in Bath & Body Works by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company’s stock worth $3,428,000 after acquiring an additional 4,625 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in Bath & Body Works in the fourth quarter worth about $258,000. Charles Schwab Investment Management Inc. lifted its stake in Bath & Body Works by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company’s stock worth $66,088,000 after acquiring an additional 195,813 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in Bath & Body Works in the fourth quarter worth about $1,350,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Stock Down 6.9%

BBWI opened at $31.14 on Thursday. Bath & Body Works, Inc. has a 52-week low of $24.96 and a 52-week high of $52.99. The company has a market cap of $6.63 billion, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87. The firm’s 50-day moving average price is $30.19 and its 200-day moving average price is $34.01.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $2.78 billion. On average, research analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

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

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. Bath & Body Works’s dividend payout ratio (DPR) is currently 21.98%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BBWI shares. Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Morgan Stanley lowered their price objective on shares of Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group decreased their price target on shares of Bath & Body Works from $49.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company increased their price target on shares of Bath & Body Works from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, May 14th. Finally, UBS Group increased their price target on shares of Bath & Body Works from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.56.

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.