Teza Capital Management LLC Makes New $336,000 Investment in Bath & Body Works, Inc. (NYSE:BBWI)

Teza Capital Management LLC purchased a new stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,675 shares of the company’s stock, valued at approximately $336,000.

Several other hedge funds also recently modified their holdings of the company. State of Wyoming lifted its holdings in shares of Bath & Body Works by 406.9% in the fourth quarter. State of Wyoming now owns 7,269 shares of the company’s stock valued at $282,000 after buying an additional 5,835 shares during the period. Scientech Research LLC bought a new stake in Bath & Body Works in the fourth quarter worth about $1,210,000. Shellback Capital LP acquired a new stake in Bath & Body Works in the 4th quarter valued at about $15,508,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bath & Body Works during the 4th quarter valued at about $1,501,000. Finally, Quantinno Capital Management LP boosted its position in shares of Bath & Body Works by 205.4% during the 4th quarter. Quantinno Capital Management LP now owns 173,060 shares of the company’s stock valued at $6,710,000 after purchasing an additional 116,399 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Trading Down 0.4%

Shares of NYSE BBWI opened at $33.43 on Wednesday. Bath & Body Works, Inc. has a one year low of $24.96 and a one year high of $52.99. The business has a 50-day moving average price of $30.16 and a two-hundred day moving average price of $34.03. The firm has a market capitalization of $7.12 billion, a PE ratio of 8.15, a PEG ratio of 0.92 and a beta of 1.87.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Research analysts anticipate that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

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

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, June 6th. Bath & Body Works’s dividend payout ratio (DPR) is presently 21.98%.

Analyst Upgrades and Downgrades

BBWI has been the topic of a number of research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $43.00 target price on shares of Bath & Body Works in a report on Tuesday. The Goldman Sachs Group dropped their price target on Bath & Body Works from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price objective on Bath & Body Works from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley decreased their target price on Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, UBS Group boosted their target price on Bath & Body Works from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.