Bath & Body Works (BBWI)

• Market cap: $8.36B
• 1 day: -4.34%
• 5 days: 5.01%
• 1 month: 3.49%
• 3 months: 25.50%
• 6 months: 11.50%
• Year to date: 1.79%
• 1 year: -16.87%
• 5 years: 60.32%
• 10 years: -57.85%
• 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 Q4 regulatory filings by fund managers ($100M+ AUM)

33% more funds holding in top 10

Funds holding in top 10: 6 [Q3] → 8 (+2) [Q4]

19% more first-time investments, than exits

New positions opened: 118 | Existing positions closed: 99

15% more capital invested

Capital invested by funds: $7.06B [Q3] → $8.14B (+$1.08B) [Q4]

4% more repeat investments, than reductions

Existing positions increased: 157 | Existing positions reduced: 151

1% more funds holding

Funds holding: 461 [Q3] → 465 (+4) [Q4]

4.04% less ownership

Funds ownership: 100.94% [Q3] → 96.91% (-4.04%) [Q4]

37% less call options, than puts

Call options by funds: $153M | Put options by funds: $244M

Research analyst outlook

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

• Low target: $34 12% downside
• Avg. target: $45 16% upside
• High target: $52 35% upside

9 analyst ratings

• positive: 7 78%
• neutral: 1 11%
• negative: 1 11%

Telsey Advisory Group Dana Telsey 49% 1-year accuracy 94 / 190 met price target	11% upside $43	Outperform Maintained	20 Feb 2025
JP Morgan Matthew Boss 52% 1-year accuracy 40 / 77 met price target	22% upside $47	Overweight Upgraded	18 Feb 2025
Wells Fargo Ike Boruchow 48% 1-year accuracy 23 / 48 met price target	24% upside $48	Overweight Upgraded	10 Jan 2025
Piper Sandler Korinne Wolfmeyer 27% 1-year accuracy 13 / 49 met price target	1% upside $39	Neutral Maintained	6 Jan 2025
TD Cowen Jonna Kim 100% 1-year accuracy 4 / 4 met price target	24% upside $48	Buy Maintained	12 Dec 2024