Pallas Capital Advisors LLC Invests $256,000 in Bath & Body Works, Inc. (NYSE:BBWI)

Pallas Capital Advisors LLC bought a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the fourth quarter, Holdings Channel reports. The firm bought 6,611 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds also recently made changes to their positions in BBWI. Lone Pine Capital LLC raised its stake in Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after acquiring an additional 1,547,399 shares during the period. Anomaly Capital Management LP bought a new stake in Bath & Body Works in the 2nd quarter valued at about $113,995,000. FMR LLC raised its stake in Bath & Body Works by 17,496.5% in the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after acquiring an additional 2,501,828 shares during the period. Sound Shore Management Inc. CT raised its stake in Bath & Body Works by 10.0% in the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock valued at $81,564,000 after acquiring an additional 189,889 shares during the period. Finally, KBC Group NV raised its stake in Bath & Body Works by 9,023.5% in the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after acquiring an additional 1,683,160 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Stock Performance

Shares of BBWI stock opened at $36.92 on Thursday. Bath & Body Works, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The stock has a 50 day moving average price of $35.96 and a two-hundred day moving average price of $33.64. The company has a market capitalization of $8.00 billion, a P/E ratio of 9.00, a PEG ratio of 1.43 and a beta of 1.82.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. As a group, equities analysts predict that Bath & Body Works, Inc. will post 3.26 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.17%. Bath & Body Works’s dividend payout ratio is presently 19.51%.

Analyst Upgrades and Downgrades

BBWI has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a research note on Monday, November 25th. Argus reiterated a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Barclays upped their price target on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler upped their price target on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.06.

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.