Fund 1 Investments LLC Sells 176,018 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Fund 1 Investments LLC trimmed its stake in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 98.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,500 shares of the company’s stock after selling 176,018 shares during the quarter. Fund 1 Investments LLC’s holdings in Bath & Body Works were worth $97,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its holdings in Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after purchasing an additional 329 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works during the fourth quarter worth $26,000. UMB Bank n.a. boosted its position in shares of Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock valued at $35,000 after acquiring an additional 335 shares during the period. Lindbrook Capital LLC grew its stake in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after acquiring an additional 431 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Bath & Body Works by 135.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock valued at $39,000 after acquiring an additional 582 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Piper Sandler raised shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $38.00 to $35.00 in a report on Wednesday, April 9th. Argus reiterated a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Robert W. Baird raised their price objective on Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Barclays cut their target price on Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, Cowen restated a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. 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, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Bath & Body Works Trading Down 1.9 %

NYSE:BBWI opened at $31.14 on Friday. The stock’s 50-day moving average is $29.83 and its 200-day moving average is $33.79. The stock 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. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion for 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%. As a group, equities analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works announced that its Board of Directors has approved a stock buyback plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.