Callodine Capital Management LP Takes $19.60 Million Position in Bath & Body Works, Inc. $BBWI

Callodine Capital Management LP bought a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,050,000 shares of the company’s stock, valued at approximately $19,604,000. Bath & Body Works comprises approximately 1.4% of Callodine Capital Management LP’s portfolio, making the stock its 28th biggest position.

Several other large investors have also made changes to their positions in BBWI. AQR Capital Management LLC boosted its holdings in Bath & Body Works by 132.5% in the fourth quarter. AQR Capital Management LLC now owns 11,445,928 shares of the company’s stock valued at $229,834,000 after acquiring an additional 6,523,960 shares during the last quarter. Norges Bank acquired a new stake in Bath & Body Works in the fourth quarter worth about $55,504,000. Balyasny Asset Management L.P. bought a new stake in Bath & Body Works during the 4th quarter worth about $54,785,000. Renaissance Technologies LLC raised its holdings in Bath & Body Works by 885.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,732,733 shares of the company’s stock worth $51,020,000 after purchasing an additional 2,455,500 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Bath & Body Works by 86.9% during the 3rd quarter. Bank of America Corp DE now owns 3,399,390 shares of the company’s stock valued at $87,568,000 after purchasing an additional 1,580,176 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Stock Up 3.0%

Shares of BBWI stock opened at $19.92 on Friday. Bath & Body Works, Inc. has a 12-month low of $14.27 and a 12-month high of $32.32. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. The firm has a fifty day moving average of $19.82 and a 200-day moving average of $20.44.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Bath & Body Works had a negative return on equity of 45.34% and a net margin of 10.03%.The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. Bath & Body Works has set its Q2 2026 guidance at 0.300-0.300 EPS and its FY 2026 guidance at 2.400-2.650 EPS. Research analysts expect that Bath & Body Works, Inc. will post 2.63 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. Bath & Body Works’s payout ratio is presently 22.47%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BBWI. Wells Fargo & Company raised their target price on shares of Bath & Body Works from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, June 23rd. TD Cowen boosted their price target on shares of Bath & Body Works from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of Bath & Body Works from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. The Goldman Sachs Group lowered shares of Bath & Body Works from a “neutral” rating to a “sell” rating and cut their price objective for the company from $23.00 to $19.00 in a report on Wednesday, July 8th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Bath & Body Works in a research note on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.00.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.