5 Cheap Value Stocks Hedge Funds are Buying in 2022

2. Bath & Body Works, Inc. (NYSE:BBWI)

Number of Hedge Fund Holders: 57

P/E Ratio as of May 27: 8.66

Share Price as of May 27: $42.45

Bath & Body Works, Inc. (NYSE:BBWI) is an American specialty retailer of home fragrance, body care, soaps, and sanitizer products. In Q1 2022, 57 hedge funds were bullish on Bath & Body Works, Inc. (NYSE:BBWI), compared to 62 funds in the last quarter. The collective stakes owned in Q1 exceeded $4 billion. 

On May 18, Bath & Body Works, Inc. (NYSE:BBWI) posted its Q1 financial results. The company reported an EPS of $0.64 and a revenue of $1.45 billion, above consensus estimates by $0.12 and $7.14 million, respectively. 

Citi analyst Paul Lejuez on May 23 reiterated a Buy recommendation on Bath & Body Works, Inc. (NYSE:BBWI) but lowered the firm’s price target on the shares to $54 from $87. The momentum at Bath & Body Works, Inc. (NYSE:BBWI) continues even amid tough market competition and its Q2 has started out well, the analyst told investors in a research note.