The Vanguard Group, Inc. recently announced the acquisition of new stake in Bath & Body Works Inc. (NYSE:BBWI). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.55% to 24.39 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 10.68% valued currently at $996.86 million. In addition, Third Point LLC raised its holdings by 1100.0 to 13.75 million shares. And T. Rowe Price Investment Manageme has lifted its position by 0.11% or 8965.0 shares – to 8.08 million shares.
With over 3.81 million Bath & Body Works Inc. (BBWI) shares trading Monday and a closing price of $36.60 on the day, the dollar volume was approximately $139.59 million. The shares have shown a negative half year performance of -7.69% and its price on 03/13/23 lost nearly -1.82%. Currently, there are 228.00M common shares owned by the public and among those 222.32M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for BBWI have a consensus price objective of $50.83. The analysts have set the share’s price value over the next 12 months at a high of $76.00 and a low of $40.00. The average price target is 28.78% above its recent price level and an upside to the estimated low will see the stock gain 8.5% over that period. But an upside of 51.84% will see the stock hit the forecast high price target while median target price for the stock is $50.00.
Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 201,510 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 176,515 shares.
The top 3 mutual fund holders in Bath & Body Works Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and T Rowe Price Mid Cap Growth Fund. Vanguard Total Stock Market Index owns 6.65 million shares of the company’s stock, all valued at over $271.63 million. The company bought an additional 44083.0 shares recently to bring their total holdings to about 2.91% of the shares outstanding. Vanguard 500 Index Fund bought 12513.0 shares to see its total holdings expand to 5.29 million shares valued at over $216.26 million and representing 2.32% of the shares outstanding. T Rowe Price Mid Cap Growth Fund sold 5000.0 shares to bring its total holdings to over 3.99 million shares at a value of $163.09 million. T Rowe Price Mid Cap Growth Fund now owns shares totaling to 1.75% of the shares outstanding.
Shares of Bath & Body Works Inc. (NYSE: BBWI) opened at $36.40, down -$0.88 from a prior closing price of $37.28. However, the script later moved the day high at 37.59, down -1.82%. The company’s stock has a 5-day price change of -6.99% and -13.17% over the past three months. BBWI shares are trading -13.15% year to date (YTD), with the 12-month market performance down to -23.88% lower. It has a 12-month low price of $25.75 and touched a high of $58.17 over the same period. BBWI has an average intraday trading volume of 2.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.38%, -16.21%, and -3.24% respectively.
Institutional ownership of Bath & Body Works Inc. (NYSE: BBWI) shares accounts for 96.60% of the company’s 228.00M shares outstanding. Mutual fund holders own 41.16%, while other institutional holders and individual stakeholders account for 57.01% and 0.71% respectively.
It has a market capitalization of $8.52B and a beta (3y monthly) value of 1.75. The stock’s trailing 12-month PE ratio is 10.71, while the earnings-per-share (ttm) stands at $3.42. The company has a PEG of 3.57 and a Quick Ratio of 0.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.17% over the week and 3.79% over the month.
Analysts forecast that Bath & Body Works Inc. (BBWI) will achieve an EPS of $1.6 for the current quarter, $0.46 for the next quarter and $3.67 for 2024. The lowest estimate earnings-per-share for the quarter is $1.49 while analysts give the company a high EPS estimate of $1.77. Comparatively, EPS for the current quarter was $2.3 a year ago. Earnings per share for the fiscal year are expected to increase by 27.90%, and 23.03% over the next financial year. EPS should grow at an annualized rate of 3.00% over the next five years, compared to -0.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Bath & Body Works Inc. (BBWI) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 6 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BBWI, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on February 15, 2023, with the firm’s price target at $50-$48. Wells Fargo coverage for the Bath & Body Works Inc. (BBWI) stock in a research note released on January 06, 2023 offered a Equal Weight rating with a price target of $46. Telsey Advisory Group was of a view on August 18, 2022 that the stock is Outperform, while Raymond James gave the stock Strong Buy rating on July 13, 2022, issuing a price target of $45. Evercore ISI on their part issued In-line rating on July 13, 2022.
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