Anomaly Capital Management LP Takes $114 Million Position in Bath & Body Works, Inc. (NYSE:BBWI)

Anomaly Capital Management LP acquired a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the second quarter, HoldingsChannel reports. The fund acquired 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 largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. grew its holdings in Bath & Body Works by 5.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock valued at $279,000 after purchasing an additional 277 shares during the last quarter. Empirical Finance LLC increased its position in Bath & Body Works by 3.6% during the first quarter. Empirical Finance LLC now owns 8,097 shares of the company’s stock worth $405,000 after buying an additional 278 shares in the last quarter. Comerica Bank lifted its position in shares of Bath & Body Works by 0.9% in the fourth quarter. Comerica Bank now owns 33,091 shares of the company’s stock valued at $1,428,000 after acquiring an additional 280 shares in the last quarter. CWM LLC lifted its position in shares of Bath & Body Works by 6.6% in the second quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after acquiring an additional 314 shares in the last quarter. Finally, Northwest Bank & Trust Co boosted its stake in shares of Bath & Body Works by 2.5% during the first quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock valued at $655,000 after acquiring an additional 315 shares during 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 research firms have issued reports on BBWI. JPMorgan Chase & Co. reduced their target price on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. UBS Group reduced their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Bank of America lowered their target price 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. Raymond James reduced their price target on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $29.28 on Monday. The stock has a 50-day simple moving average of $32.58 and a 200-day simple moving average of $40.73. Bath & Body Works, Inc. has a 1 year low of $26.20 and a 1 year high of $52.99. The stock has a market capitalization of $6.54 billion, a P/E ratio of 7.55, a PEG ratio of 0.86 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Analysts predict that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is presently 20.62%.

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.