Bath & Body Works (BBWI)

• Market cap: $8.51B
• 1 day: 1.79%
• 5 days: 3.10%
• 1 month: 28.71%
• 3 months: 34.12%
• 6 months: -7.16%
• Year to date: -12.25%
• 1 year: -6.74%
• 5 years: 112.50%
• 10 years: -53.50%
• Sector: Consumer Discretionary
• Industry: Retail Stores

About: Bath & Body Works is a specialty home fragrance and fragrant body care retailer operating under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company generates most of its business in North America, with just 5% of sales from international markets in fiscal 2023. For fiscal 2023, 74% of sales stemmed from the brick-and-mortar network (which was composed of more than 1,800 retail stores), similar to 2022 levels, as consumer shopping patterns remained to normal. Future growth is expected from store reformatting, digital and international channels, as well as adjacent category expansions like hair and laundry.

Employees: 57,157

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

0.69% less ownership

Funds ownership: 97.85% [Q2] → 97.16% (-0.69%) [Q3]

8% less repeat investments, than reductions

Existing positions increased: 164 | Existing positions reduced: 178

10% less funds holding

Funds holding: 512 [Q2] → 460 (-52) [Q3]

20% less capital invested

Capital invested by funds: $8.53B [Q2] → $6.79B (-$1.73B) [Q3]

37% less call options, than puts

Call options by funds: $127M | Put options by funds: $201M

40% less funds holding in top 10

Funds holding in top 10: 10 [Q2] → 6 (-4) [Q3]

44% less first-time investments, than exits

New positions opened: 65 | Existing positions closed: 117

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $34 13% downside
• Avg. target: $43 9% upside
• High target: $52 32% upside

9 analyst ratings

• positive: 5 56%
• neutral: 3 33%
• negative: 1 11%

TD Cowen Jonna Kim 100% 1-year accuracy 4 / 4 met price target	22% upside $48	Buy Maintained	12 Dec 2024
Wells Fargo Ike Boruchow 62% 1-year accuracy 28 / 45 met price target	7% upside $42	Equal-Weight Maintained	12 Dec 2024
TD Cowen Gary Taylor 21% 1-year accuracy 4 / 19 met price target	7% upside $42	Buy Maintained	26 Nov 2024
Telsey Advisory Group Dana Telsey 67% 1-year accuracy 126 / 189 met price target	10% upside $43	Outperform Maintained	26 Nov 2024
Morgan Stanley Kimberly Greenberger 75% 1-year accuracy 3 / 4 met price target	25% upside $49	Overweight Maintained	26 Nov 2024