Fund 1 Investments LLC Sells 176,018 Shares of Bath & Body Works, Inc. (NYSE:BBWI)

Fund 1 Investments LLC cut its holdings in shares of Bath & Body Works, Inc. (NYSE:BBWI) by 98.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,500 shares of the company’s stock after selling 176,018 shares during the period. Fund 1 Investments LLC’s holdings in Bath & Body Works were worth $97,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Eisler Capital Management Ltd. acquired a new position in Bath & Body Works during the 4th quarter valued at about $4,005,000. Crestline Management LP bought a new stake in shares of Bath & Body Works during the fourth quarter worth approximately $1,437,000. Cetera Investment Advisers boosted its stake in Bath & Body Works by 18.4% in the fourth quarter. Cetera Investment Advisers now owns 24,877 shares of the company’s stock valued at $964,000 after acquiring an additional 3,858 shares during the last quarter. Bridger Management LLC boosted its stake in Bath & Body Works by 12.5% in the fourth quarter. Bridger Management LLC now owns 249,615 shares of the company’s stock valued at $9,678,000 after acquiring an additional 27,713 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Bath & Body Works by 36.5% during the 4th quarter. Captrust Financial Advisors now owns 21,918 shares of the company’s stock valued at $850,000 after acquiring an additional 5,859 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BBWI shares. The Goldman Sachs Group decreased their price objective on Bath & Body Works from $49.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Raymond James decreased their target price on Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price target on shares of Bath & Body Works from $47.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Citigroup decreased their price objective on shares of Bath & Body Works from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Morgan Stanley cut their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Trading Down 1.9 %

Shares of BBWI opened at $31.14 on Friday. Bath & Body Works, Inc. has a 12 month low of $24.96 and a 12 month high of $52.99. The firm has a fifty day simple moving average of $29.83 and a 200 day simple moving average of $33.79. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 0.92 and a beta of 1.87.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. As a group, research analysts predict that Bath & Body Works, Inc. will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works announced that its Board of Directors has initiated a share buyback plan on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.