QS Investors LLC grew its holdings in shares of L Brands Inc (NYSE:LB) by 16.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 135,763 shares of the specialty retailer’s stock after purchasing an additional 19,207 shares during the period. QS Investors LLC’s holdings in L Brands were worth $8,176,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of LB. Tower Research Capital LLC TRC increased its holdings in shares of L Brands by 182.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,364 shares during the period. Gradient Investments LLC acquired a new position in shares of L Brands during the fourth quarter valued at $153,000. Steward Partners Investment Advisory LLC acquired a new position in shares of L Brands during the third quarter valued at $161,000. Chesapeake Asset Management LLC acquired a new position in shares of L Brands during the third quarter valued at $205,000. Finally, Check Capital Management Inc. CA acquired a new position in shares of L Brands during the fourth quarter valued at $205,000. 81.05% of the stock is currently owned by institutional investors.
L Brands Inc (NYSE:LB) opened at $42.26 on Monday. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. L Brands Inc has a one year low of $35.00 and a one year high of $63.10. The firm has a market capitalization of $11,928.53, a P/E ratio of 12.28, a P/E/G ratio of 1.16 and a beta of 0.59.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.68%. The ex-dividend date was Thursday, February 22nd. L Brands’s dividend payout ratio is currently 69.77%.
L Brands declared that its Board of Directors has approved a stock buyback program on Thursday, March 8th that allows the company to repurchase $226.90 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of research firms recently issued reports on LB. B. Riley set a $58.00 target price on L Brands and gave the stock a “buy” rating in a report on Thursday, November 16th. Royal Bank of Canada raised L Brands from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $58.00 in a report on Friday, November 17th. Piper Jaffray Companies set a $47.00 target price on L Brands and gave the stock a “hold” rating in a report on Thursday, November 16th. BMO Capital Markets lifted their target price on L Brands to $49.00 and gave the stock a “market perform” rating in a report on Friday, November 17th. Finally, Buckingham Research lifted their target price on L Brands from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, November 17th. Six equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.40.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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