L Brands Inc (LB) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in L Brands Inc (NYSE:LB) by 714.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 278,110 shares of the specialty retailer’s stock after buying an additional 243,982 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of L Brands worth $8,427,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in L Brands by 7.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,092 shares of the specialty retailer’s stock worth $3,790,000 after purchasing an additional 9,200 shares during the period. Rafferty Asset Management LLC acquired a new position in L Brands in the 3rd quarter worth $310,000. Polaris Capital Management LLC boosted its stake in L Brands by 22.0% in the 3rd quarter. Polaris Capital Management LLC now owns 1,338,468 shares of the specialty retailer’s stock worth $40,556,000 after purchasing an additional 241,768 shares during the period. CI Investments Inc. acquired a new position in L Brands in the 3rd quarter worth $2,273,000. Finally, Fosun International Ltd boosted its stake in L Brands by 14.4% in the 3rd quarter. Fosun International Ltd now owns 1,213,243 shares of the specialty retailer’s stock worth $36,762,000 after purchasing an additional 152,981 shares during the period. 71.96% of the stock is owned by institutional investors.

Shares of LB stock opened at $31.82 on Friday. The stock has a market capitalization of $9.08 billion, a PE ratio of 9.94, a PEG ratio of 1.08 and a beta of 0.32. L Brands Inc has a 52-week low of $25.89 and a 52-week high of $63.10.

L Brands (NYSE:LB) last issued its earnings results on Monday, November 19th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.70 billion. L Brands had a net margin of 5.81% and a negative return on equity of 76.28%. L Brands’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. On average, analysts predict that L Brands Inc will post 2.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 23rd were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, November 21st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.54%. L Brands’s payout ratio is 75.00%.

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of L Brands from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, November 12th. Zacks Investment Research reissued a “buy” rating and set a $35.00 price target on shares of L Brands in a research report on Tuesday, November 13th. Barclays set a $33.00 price target on shares of L Brands and gave the stock a “hold” rating in a research report on Tuesday, November 13th. ValuEngine raised shares of L Brands from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 8th. Finally, KeyCorp raised shares of L Brands from an “underweight” rating to a “sector weight” rating in a research report on Thursday, November 8th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have assigned a buy rating to the company. L Brands currently has an average rating of “Hold” and a consensus price target of $38.39.

In other news, Director Raymond Zimmerman sold 6,385 shares of the company’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $28.33, for a total value of $180,887.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.32% of the stock is currently owned by corporate insiders.

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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.

Further Reading: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for L Brands (NYSE:LB)

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