Seeyond cut its position in L Brands Inc (NYSE:LB) by 18.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,599 shares of the specialty retailer’s stock after selling 789 shares during the period. Seeyond’s holdings in L Brands were worth $94,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. First Mercantile Trust Co. purchased a new position in L Brands in the 2nd quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of L Brands by 65.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock worth $130,000 after buying an additional 1,857 shares during the last quarter. Trustcore Financial Services LLC acquired a new position in shares of L Brands during the 2nd quarter worth $130,000. City Holding Co. raised its stake in shares of L Brands by 360.6% during the 2nd quarter. City Holding Co. now owns 6,131 shares of the specialty retailer’s stock worth $160,000 after buying an additional 4,800 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new position in shares of L Brands during the 1st quarter worth $206,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on LB shares. Bank of America set a $30.00 price target on L Brands and gave the company a “hold” rating in a report on Thursday, May 23rd. Citigroup decreased their target price on L Brands from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, August 23rd. MKM Partners decreased their target price on L Brands from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Wedbush reiterated a “neutral” rating on shares of L Brands in a report on Monday, August 19th. Finally, Goldman Sachs Group set a $26.00 target price on L Brands and gave the stock a “buy” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.43.
Shares of LB stock traded up $0.64 on Monday, hitting $19.51. 181,519 shares of the stock traded hands, compared to its average volume of 7,589,115. The company has a market capitalization of $5.25 billion, a PE ratio of 6.91, a PEG ratio of 0.68 and a beta of 0.76. L Brands Inc has a 1-year low of $15.82 and a 1-year high of $38.00. The company’s fifty day moving average is $20.53 and its 200 day moving average is $24.22.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. L Brands had a negative return on equity of 74.73% and a net margin of 4.37%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. On average, analysts predict that L Brands Inc will post 2.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 6.15%. L Brands’s payout ratio is currently 42.55%.
L Brands Company Profile
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.
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