Great West Life Assurance Co. Can lifted its holdings in L Brands Inc (NYSE:LB) by 33.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,220 shares of the specialty retailer’s stock after acquiring an additional 51,121 shares during the period. Great West Life Assurance Co. Can owned approximately 0.07% of L Brands worth $4,952,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Kwmg LLC raised its position in shares of L Brands by 6.2% in the 4th quarter. Kwmg LLC now owns 74,293 shares of the specialty retailer’s stock worth $1,907,000 after acquiring an additional 4,309 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of L Brands by 7.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,092 shares of the specialty retailer’s stock valued at $3,790,000 after buying an additional 9,200 shares during the period. Salem Investment Counselors Inc. acquired a new stake in shares of L Brands in the 3rd quarter valued at about $130,000. Radin Capital Partners Inc. acquired a new stake in shares of L Brands in the 3rd quarter valued at about $11,090,000. Finally, Man Group plc grew its stake in shares of L Brands by 266.8% in the 3rd quarter. Man Group plc now owns 219,687 shares of the specialty retailer’s stock valued at $6,657,000 after buying an additional 159,791 shares during the period. 71.42% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on LB shares. Wells Fargo & Co reduced their target price on L Brands from $55.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, January 2nd. ValuEngine downgraded L Brands from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 21st. JPMorgan Chase & Co. reduced their target price on L Brands from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, January 7th. B. Riley set a $44.00 target price on L Brands and gave the company a “buy” rating in a research note on Friday, January 11th. Finally, Citigroup started coverage on L Brands in a research note on Thursday, December 20th. They issued a “market weight” rating for the company. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.58.
LB stock opened at $26.58 on Friday. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 9.43, a P/E/G ratio of 1.01 and a beta of 0.55. L Brands Inc has a 52-week low of $23.71 and a 52-week high of $41.27.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, February 27th. The specialty retailer reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.90 billion. L Brands had a negative return on equity of 69.36% and a net margin of 4.86%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.11 EPS. Equities research analysts expect that L Brands Inc will post 2.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 22nd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $1.20 dividend on an annualized basis and a yield of 4.51%. L Brands’s dividend payout ratio (DPR) is currently 42.55%.
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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.
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