Connor Clark & Lunn Investment Management Ltd. Invests $7.37 Million in Bath & Body Works, Inc. (NYSE:BBWI)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bath & Body Works, Inc. (NYSE:BBWI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 230,911 shares of the company’s stock, valued at approximately $7,371,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Bath & Body Works as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBWI. First Community Trust NA acquired a new stake in shares of Bath & Body Works during the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after buying an additional 900 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Bath & Body Works by 224.0% in the 1st quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock valued at $74,000 after buying an additional 1,017 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Bath & Body Works by 480.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after acquiring an additional 1,436 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Bath & Body Works by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock worth $72,000 after acquiring an additional 730 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the transaction, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

BBWI has been the subject of a number of recent analyst reports. Citigroup lowered their target price on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Barclays lowered Bath & Body Works from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $31.00 to $28.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their price target on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. BMO Capital Markets restated an “outperform” rating and issued a $50.00 price objective (down from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Finally, Robert W. Baird decreased their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.25.

Bath & Body Works Stock Performance

Shares of BBWI opened at $30.71 on Friday. Bath & Body Works, Inc. has a one year low of $26.20 and a one year high of $52.99. The stock has a 50-day moving average price of $30.55 and a 200 day moving average price of $35.99. The company has a market capitalization of $6.73 billion, a P/E ratio of 7.44, a P/E/G ratio of 0.97 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. As a group, equities research analysts forecast that Bath & Body Works, Inc. will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 2.61%. Bath & Body Works’s payout ratio is 19.37%.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.