Connor Clark & Lunn Investment Management Ltd. Invests $28.36 Million in Bath & Body Works, Inc. $BBWI

Key Points

• Connor Clark & Lunn Investment Management acquired 1.23 million Bath & Body Works shares worth approximately $28.36 million, representing about 0.61% of the company. Institutional investors and hedge funds collectively own 95.14% of BBWI.
• Bath & Body Works reported quarterly EPS of $0.32, beating estimates of $0.29, while revenue reached $1.38 billion but declined 3.2% year over year. Shares opened at $19.16, well below their 12-month high of $32.32.
• The company announced a quarterly dividend of $0.20 per share, equating to an annualized yield of about 4.2%. Analysts maintain a consensus “Hold” rating with an average price target of $22.57.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,225,945 shares of the company's stock, valued at approximately $28,356,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.61% of Bath & Body Works at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Bath & Body Works during the 2nd quarter valued at $449,065,000. AQR Capital Management LLC raised its position in Bath & Body Works by 132.5% in the 4th quarter. AQR Capital Management LLC now owns 11,445,928 shares of the company's stock valued at $229,834,000 after purchasing an additional 6,523,960 shares during the last quarter. Norges Bank acquired a new position in Bath & Body Works in the fourth quarter worth $55,504,000. Balyasny Asset Management L.P. acquired a new position in Bath & Body Works in the fourth quarter worth $54,785,000. Finally, Bank of New York Mellon Corp acquired a new position in Bath & Body Works in the second quarter worth $59,260,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Bath & Body Works Stock Down 1.5%

Shares of BBWI opened at $19.16 on Tuesday. Bath & Body Works, Inc. has a 12-month low of $14.27 and a 12-month high of $32.32. The firm has a market capitalization of $3.86 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.38. The stock's fifty day simple moving average is $20.46 and its 200-day simple moving average is $20.06.

Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. Bath & Body Works had a negative return on equity of 45.34% and a net margin of 10.03%.The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. Bath & Body Works has set its Q2 2026 guidance at 0.300-0.300 EPS and its FY 2026 guidance at 2.400-2.650 EPS. Analysts anticipate that Bath & Body Works, Inc. will post 2.63 EPS for the current year.

Bath & Body Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, August 21st. Bath & Body Works's dividend payout ratio (DPR) is 22.47%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays lowered their target price on Bath & Body Works from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Thursday, May 28th. Morgan Stanley reissued an "equal weight" rating and set a $22.00 price objective on shares of Bath & Body Works in a report on Monday, July 6th. Raymond James Financial restated a "market perform" rating on shares of Bath & Body Works in a research report on Wednesday, May 27th. Weiss Ratings raised shares of Bath & Body Works from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company upped their target price on shares of Bath & Body Works from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Bath & Body Works currently has a consensus rating of "Hold" and an average price target of $22.57.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.

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