Creative Planning decreased its holdings in shares of L Brands Inc (NYSE:LB) by 19.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,583 shares of the specialty retailer’s stock after selling 2,634 shares during the quarter. Creative Planning’s holdings in L Brands were worth $192,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Strategic Blueprint LLC acquired a new position in L Brands in the third quarter valued at $33,000. FNY Investment Advisers LLC boosted its holdings in L Brands by 1,767.0% in the fourth quarter. FNY Investment Advisers LLC now owns 1,755 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 1,661 shares during the last quarter. NuWave Investment Management LLC boosted its holdings in L Brands by 757.8% in the third quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 1,690 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in L Brands by 827.2% in the third quarter. Tower Research Capital LLC TRC now owns 4,469 shares of the specialty retailer’s stock valued at $87,000 after acquiring an additional 3,987 shares during the last quarter. Finally, Dupont Capital Management Corp boosted its holdings in L Brands by 8.8% in the fourth quarter. Dupont Capital Management Corp now owns 7,800 shares of the specialty retailer’s stock valued at $141,000 after acquiring an additional 632 shares during the last quarter. Institutional investors and hedge funds own 71.42% of the company’s stock.
A number of research analysts recently weighed in on the company. Zacks Investment Research cut L Brands from a “hold” rating to a “strong sell” rating and set a $17.00 target price on the stock. in a report on Wednesday, January 15th. B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of L Brands in a research report on Thursday, November 21st. MKM Partners cut their price objective on L Brands to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Bank of America raised L Brands from a “neutral” rating to a “buy” rating and raised their price objective for the company from $21.00 to $25.00 in a research report on Friday, January 3rd. Finally, Deutsche Bank raised L Brands from a “hold” rating to a “buy” rating and raised their price objective for the company from $22.00 to $24.00 in a research report on Friday, January 10th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.67.
Shares of NYSE LB opened at $24.34 on Friday. L Brands Inc has a 1 year low of $15.80 and a 1 year high of $29.02. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.98 and a beta of 0.76. The stock’s 50-day simple moving average is $20.86 and its 200-day simple moving average is $19.25.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. L Brands had a negative return on equity of 72.15% and a net margin of 2.80%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts expect that L Brands Inc will post 2.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, February 20th. L Brands’s payout ratio is 42.55%.
About L Brands
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
Further Reading: Equal Weight Rating
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