Proficio Capital Partners LLC Makes New $1.38 Million Investment in Bath & Body Works, Inc. (NYSE:BBWI)

Proficio Capital Partners LLC bought a new position in Bath & Body Works, Inc. (NYSE:BBWI) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 35,552 shares of the company’s stock, valued at approximately $1,378,000.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in Bath & Body Works in the 4th quarter valued at $26,000. UMB Bank n.a. increased 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 valued at $35,000 after buying an additional 335 shares during the last quarter. True Wealth Design LLC increased 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 valued at $34,000 after buying an additional 1,054 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bath & Body Works in the 3rd quarter valued at $39,000. Finally, Friedenthal Financial acquired a new stake in Bath & Body Works in the 4th quarter valued at $57,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Trading Down 4.5 %

Bath & Body Works stock opened at $32.66 on Friday. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 7.97, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. The firm’s fifty day moving average price is $37.37 and its two-hundred day moving average price is $34.18.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. On average, research analysts forecast that Bath & Body Works, Inc. will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has authorized a share repurchase plan on Thursday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Friday, February 21st. Bath & Body Works’s payout ratio is currently 21.98%.

Analyst Upgrades and Downgrades

BBWI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Cowen reissued a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $42.00 to $48.00 in a research report on Friday, January 10th. TD Cowen lifted their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.06.

Bath & Body Works 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.