Bath & Body Works, Inc. (NYSE:BBWI) Holdings Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in Bath & Body Works, Inc. (NYSE:BBWI) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,423 shares of the company’s stock after acquiring an additional 4,625 shares during the period. PNC Financial Services Group Inc.’s holdings in Bath & Body Works were worth $3,428,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Bath & Body Works in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. lifted its stake in Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after acquiring an additional 329 shares in the last quarter. True Wealth Design LLC lifted 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 acquiring an additional 1,054 shares in the last quarter. UMB Bank n.a. lifted 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 acquiring an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after acquiring an additional 431 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Stock Performance

Shares of BBWI opened at $28.34 on Friday. The stock has a fifty day moving average price of $36.52 and a two-hundred day moving average price of $34.03. Bath & Body Works, Inc. has a 52-week low of $26.20 and a 52-week high of $52.99. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 6.91, a PEG ratio of 0.92 and a beta of 1.89.

Bath & Body Works (NYSE:BBWI) last released 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. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. As a group, research analysts predict that Bath & Body Works, Inc. will post 3.3 EPS for the current fiscal year.

Bath & Body Works declared that its board has initiated a share repurchase plan on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.20 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.82%. Bath & Body Works’s payout ratio is 21.98%.

Wall Street Analyst Weigh In

BBWI has been the subject of several research analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a research note on Thursday, February 27th. Raymond James reaffirmed an “outperform” rating and issued a $46.00 target price (up from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. set a $47.00 price objective on Bath & Body Works in a report on Thursday, February 27th. Finally, Piper Sandler increased their price objective on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.06.

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.