Bath & Body Works (BBWI)

• Market cap: $8B
• 1 day: 0.38%
• 5 days: -0.05%
• 1 month: -4.38%
• 3 months: 18.71%
• 6 months: 0.35%
• Year to date: -2.59%
• 1 year: -14.39%
• 5 years: 86.61%
• 10 years: -54.18%
• 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)

0.07% less ownership

Funds ownership: 101.01% [Q2] → 100.94% (-0.07%) [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: $8.8B [Q2] → $7.06B (-$1.75B) [Q3]

37% less call options, than puts

Call options by funds: $133M | Put options by funds: $210M

40% less funds holding in top 10

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

42% less first-time investments, than exits

New positions opened: 65 | Existing positions closed: 112

Research analyst outlook

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

• Low target: $34 8% downside
• Avg. target: $44 19% upside
• High target: $52 41% upside

9 analyst ratings

• positive: 6 67%
• neutral: 2 22%
• negative: 1 11%

Wells Fargo Ike Boruchow 60% 1-year accuracy 27 / 45 met price target	30% upside $48	Overweight Upgraded	10 Jan 2025
Piper Sandler Korinne Wolfmeyer 31% 1-year accuracy 14 / 45 met price target	6% upside $39	Neutral Maintained	6 Jan 2025
TD Cowen Jonna Kim 75% 1-year accuracy 3 / 4 met price target	30% upside $48	Buy Maintained	12 Dec 2024
TD Cowen Gary Taylor 26% 1-year accuracy 5 / 19 met price target	14% upside $42	Buy Maintained	26 Nov 2024
Telsey Advisory Group Dana Telsey 60% 1-year accuracy 114 / 191 met price target	16% upside $43	Outperform Maintained	26 Nov 2024