Maverick Capital Ltd. Makes New Investment in Bath & Body Works, Inc. (NYSE:BBWI)

Maverick Capital Ltd. acquired a new stake in Bath & Body Works, Inc. (NYSE:BBWI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 93,918 shares of the company’s stock, valued at approximately $3,667,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Anomaly Capital Management LP acquired a new stake in Bath & Body Works in the 2nd quarter worth about $113,995,000. Lone Pine Capital LLC grew its holdings in Bath & Body Works by 20.0% in the fourth quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock valued at $450,973,000 after purchasing an additional 1,742,471 shares during the period. Cadian Capital Management LP acquired a new position in Bath & Body Works during the fourth quarter worth approximately $58,266,000. Vanguard Group Inc. raised its stake in Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after purchasing an additional 1,102,124 shares during the period. Finally, KBC Group NV raised its stake in Bath & Body Works by 5,406.5% during the fourth quarter. KBC Group NV now owns 1,118,706 shares of the company’s stock worth $48,284,000 after purchasing an additional 1,098,390 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BBWI shares. Piper Sandler dropped their price objective on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Morgan Stanley dropped their price target on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 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. Finally, Evercore ISI reduced their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Bath & Body Works has a consensus rating of “Moderate Buy” and an average target price of $42.35.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $31.74 on Friday. Bath & Body Works, Inc. has a 1-year low of $26.20 and a 1-year high of $52.99. The business has a 50-day moving average of $31.96 and a 200-day moving average of $40.40. The company has a market capitalization of $6.95 billion, a PE ratio of 8.18, a P/E/G ratio of 0.96 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.54 billion. On average, equities analysts expect that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. Bath & Body Works’s dividend payout ratio (DPR) is 20.62%.

Bath & Body Works Company Profile

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.