Heritage Investors Management Corp lowered its stake in shares of L Brands Inc (NYSE:LB) by 7.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,142 shares of the specialty retailer’s stock after selling 7,689 shares during the period. Heritage Investors Management Corp’s holdings in L Brands were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of L Brands by 6.2% during the first quarter. Dimensional Fund Advisors LP now owns 551,282 shares of the specialty retailer’s stock worth $21,064,000 after purchasing an additional 32,012 shares during the period. Allianz Asset Management GmbH raised its position in shares of L Brands by 205.4% during the first quarter. Allianz Asset Management GmbH now owns 43,626 shares of the specialty retailer’s stock worth $1,668,000 after purchasing an additional 29,343 shares during the period. Suntrust Banks Inc. raised its position in shares of L Brands by 78.5% during the first quarter. Suntrust Banks Inc. now owns 7,483 shares of the specialty retailer’s stock worth $285,000 after purchasing an additional 3,292 shares during the period. DnB Asset Management AS acquired a new stake in shares of L Brands during the second quarter worth about $1,039,000. Finally, IFM Investors Pty Ltd raised its position in shares of L Brands by 44.7% during the second quarter. IFM Investors Pty Ltd now owns 10,757 shares of the specialty retailer’s stock worth $397,000 after purchasing an additional 3,322 shares during the period. Hedge funds and other institutional investors own 73.47% of the company’s stock.
A number of equities research analysts have recently commented on the company. MKM Partners raised their price target on L Brands to $34.00 and gave the stock a “neutral” rating in a research report on Friday. ValuEngine raised L Brands from a “strong sell” rating to a “sell” rating in a research report on Thursday. KeyCorp raised L Brands from an “underweight” rating to a “sector weight” rating in a research report on Thursday. Loop Capital set a $24.00 price target on L Brands and gave the stock a “sell” rating in a research report on Thursday. Finally, Goldman Sachs Group assumed coverage on L Brands in a research report on Thursday, October 25th. They set a “buy” rating and a $36.00 price target on the stock. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.12.
NYSE:LB opened at $36.50 on Friday. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.21 and a beta of 0.33. L Brands Inc has a twelve month low of $25.89 and a twelve month high of $63.10.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.92 billion. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS. Sell-side analysts forecast that L Brands Inc will post 2.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.58%. The ex-dividend date is Wednesday, November 21st. L Brands’s dividend payout ratio (DPR) is 75.00%.
L Brands 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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