Third Point LLC 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 0.72% to 13.85 million shares with purchase of 98900.0 shares. This fresh investment now brings its stake to 6.05% valued currently at $513.28 million. In addition, T. Rowe Price Investment Manageme raised its holdings by 2.66 million to 11.75 million shares. And BlackRock Fund Advisors has lifted its position by 4.37% or 0.47 million shares – to 11.34 million shares.
With over 3.82 million Bath & Body Works Inc. (BBWI) shares trading Tuesday and a closing price of $37.25 on the day, the dollar volume was approximately $142.27 million. The shares have shown a positive half year performance of 1.78% and its price on 09/12/23 gained nearly 2.17%. Currently, there are 228.00M common shares owned by the public and among those 225.66M 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 $47.78. The analysts have set the share’s price value over the next 12 months at a high of $68.00 and a low of $37.00. The average price target is 22.04% above its recent price level and a downside to the estimated low will see the stock lose -0.68% over that period. But an upside of 45.22% will see the stock hit the forecast high price target while median target price for the stock is $48.00.
Insiders at the company have transacted a total of 45 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 516,909 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 86,025 shares.
The top 3 mutual fund holders in Bath & Body Works Inc. are Vanguard Total Stock Market ETF, T Rowe Price Mid Cap Growth Fund, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 6.76 million shares of the company’s stock, all valued at over $250.52 million. The company sold 7641.0 shares recently to bring their total holdings to about 2.95% of the shares outstanding. T Rowe Price Mid Cap Growth Fund bought 1.3 million shares to see its total holdings expand to 5.8 million shares valued at over $214.89 million and representing 2.53% of the shares outstanding. Vanguard Small Cap Index Fund bought 26022.0 shares to bring its total holdings to over 5.64 million shares at a value of $209.07 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.46% of the shares outstanding.
Shares of Bath & Body Works Inc. (NYSE: BBWI) opened at $36.22, down -$0.24 from a prior closing price of $36.46. However, the script later moved the day high at 37.59, up 2.17%. The company’s stock has a 5-day price change of -1.01% and -10.91% over the past three months. BBWI shares are trading -11.60% year to date (YTD), with the 12-month market performance down to -6.05% lower. It has a 12-month low price of $30.52 and touched a high of $49.55 over the same period. BBWI has an average intraday trading volume of 3.85 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 1.56%, 1.10%, and -4.41% 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 44.62%, while other institutional holders and individual stakeholders account for 50.94% and 0.89% respectively.
It has a market capitalization of $8.61B and a beta (3y monthly) value of 1.76. The stock’s trailing 12-month PE ratio is 12.21, while the earnings-per-share (ttm) stands at $3.05. The company has a PEG of 1.74 and a Quick Ratio of 0.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.65% over the week and 3.57% over the month.
Analysts forecast that Bath & Body Works Inc. (BBWI) will achieve an EPS of $0.35 for the current quarter, $1.99 for the next quarter and $3.58 for 2025. The lowest estimate earnings-per-share for the quarter is $0.3 while analysts give the company a high EPS estimate of $0.42. Comparatively, EPS for the current quarter was $0.4 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.50%, and 16.48% over the next financial year. EPS should grow at an annualized rate of 7.03% over the next five years, compared to 1.90% 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 2.20. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 7 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. Barclays stated their Overweight rating for the stock in a research note on August 01, 2023, with the firm’s price target at $41-$45.
