Connor Clark & Lunn Investment Management Ltd. Takes Position in Bath & Body Works, Inc. (NYSE:BBWI)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Bath & Body Works, Inc. (NYSE:BBWI) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 230,911 shares of the company’s stock, valued at approximately $7,371,000.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on BBWI shares. UBS Group reduced their price target on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America decreased their price target on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company lowered their price target on Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Barclays lowered Bath & Body Works from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $31.00 to $28.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their target price on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.25.

Insiders Place Their Bets

In other news, CEO Gina Boswell bought 6,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Bath & Body Works Stock Up 0.5 %

Shares of NYSE:BBWI opened at $30.71 on Friday. The company’s fifty day moving average is $30.55 and its two-hundred day moving average is $35.99. The company has a market cap of $6.73 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 0.97 and a beta of 1.79. Bath & Body Works, Inc. has a 12-month low of $26.20 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. Equities research analysts anticipate that Bath & Body Works, Inc. will post 3.18 earnings per share for the current year.

Bath & Body Works Dividend Announcement

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

Bath & Body Works Profile

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.