Anomaly Capital Management LP Buys New Position in Bath & Body Works, Inc. (NYSE:BBWI)

Anomaly Capital Management LP bought a new stake in Bath & Body Works, Inc. (NYSE:BBWI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,919,202 shares of the company’s stock, valued at approximately $113,995,000. Bath & Body Works makes up approximately 4.3% of Anomaly Capital Management LP’s portfolio, making the stock its 9th biggest holding. Anomaly Capital Management LP owned approximately 1.31% of Bath & Body Works as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Community Trust NA purchased a new position in Bath & Body Works in the second quarter valued at $30,000. EverSource Wealth Advisors LLC raised its position in shares of Bath & Body Works by 72.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after acquiring an additional 337 shares in the last quarter. GAMMA Investing LLC lifted its stake in Bath & Body Works by 75.7% during the first quarter. GAMMA Investing LLC now owns 1,116 shares of the company’s stock worth $56,000 after purchasing an additional 481 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in Bath & Body Works by 9,664.7% in the fourth quarter. TFO Wealth Partners LLC now owns 1,660 shares of the company’s stock valued at $72,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Quarry LP increased its stake in Bath & Body Works by 289.4% in the fourth quarter. Quarry LP now owns 1,690 shares of the company’s stock valued at $73,000 after purchasing an additional 1,256 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Price Performance

NYSE:BBWI opened at $29.28 on Monday. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 0.86 and a beta of 1.77. The firm’s fifty day moving average price is $32.58 and its 200 day moving average price is $40.73. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. As a group, analysts expect that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is 20.62%.

Analyst Ratings Changes

Several research analysts have recently issued reports on BBWI shares. UBS Group lowered their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America decreased their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Morgan Stanley cut their target price on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Piper Sandler decreased their target price on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, Barclays dropped their price target on Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.