Connor Clark & Lunn Investment Management Ltd. Trims Stock Holdings in Bath & Body Works, Inc. (NYSE:BBWI)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Bath & Body Works, Inc. (NYSE:BBWI - Free Report) by 48.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,154 shares of the company's stock after selling 110,456 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Bath & Body Works worth $3,552,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC raised its holdings in shares of Bath & Body Works by 94.7% during the first quarter. Golden State Wealth Management LLC now owns 1,320 shares of the company's stock worth $40,000 after acquiring an additional 642 shares during the period. UMB Bank n.a. boosted its holdings in shares of Bath & Body Works by 65.9% during the 1st quarter. UMB Bank n.a. now owns 1,501 shares of the company's stock worth $46,000 after buying an additional 596 shares during the period. Ancora Advisors LLC bought a new stake in Bath & Body Works in the 4th quarter valued at about $67,000. Quarry LP acquired a new position in shares of Bath & Body Works in the 4th quarter valued at approximately $122,000. Finally, TD Private Client Wealth LLC raised its position in shares of Bath & Body Works by 44.3% in the 1st quarter. TD Private Client Wealth LLC now owns 3,305 shares of the company's stock valued at $100,000 after buying an additional 1,015 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Bath & Body Works Stock Performance

BBWI stock traded down $0.03 during trading on Friday, reaching $28.68. The company had a trading volume of 3,769,007 shares, compared to its average volume of 4,526,039. The firm has a 50-day simple moving average of $29.92 and a 200-day simple moving average of $31.26. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 0.96 and a beta of 1.54. Bath & Body Works, Inc. has a twelve month low of $24.94 and a twelve month high of $41.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. Bath & Body Works had a net margin of 11.10% and a negative return on equity of 47.44%. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period last year, the business earned $0.38 EPS. Bath & Body Works's revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts expect that Bath & Body Works, Inc. will post 3.3 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 22nd. Bath & Body Works's payout ratio is presently 21.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BBWI. Citigroup lifted their price target on shares of Bath & Body Works from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $38.00 price target (down from $43.00) on shares of Bath & Body Works in a research note on Thursday, May 29th. Morgan Stanley reduced their price objective on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company upped their price objective on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Bath & Body Works from $40.00 to $46.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Bath & Body Works currently has an average rating of "Moderate Buy" and an average target price of $42.19.

Bath & Body Works Profile

Bath & Body Works, Inc is a specialty retailers and home to America's Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.