Teacher Retirement System of Texas Invests $2.15 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Teacher Retirement System of Texas purchased a new position in Bath & Body Works, Inc. (NYSE:BBWI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,466 shares of the company’s stock, valued at approximately $2,150,000.

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

Bath & Body Works Stock Down 1.1 %

Shares of BBWI opened at $31.84 on Thursday. The company has a market cap of $6.82 billion, a P/E ratio of 7.77, a PEG ratio of 0.92 and a beta of 1.89. Bath & Body Works, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $52.99. The firm’s 50 day moving average price is $35.42 and its 200 day moving average price is $34.02.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data 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. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Research analysts forecast that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works declared that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 2.51%. The ex-dividend date of this dividend was Friday, February 21st. Bath & Body Works’s dividend payout ratio is presently 21.98%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Argus reissued a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $43.00 price target on shares of Bath & Body Works in a research note on Thursday, February 27th. Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. TD Cowen increased their price objective on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Raymond James restated an “outperform” rating and issued a $46.00 target price (up previously from $42.00) on shares of Bath & Body Works in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.