L Brands Inc. (LB) Position Boosted by Vanguard Group Inc.
Vanguard Group Inc. boosted its position in shares of L Brands Inc. (NYSE:LB) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,408,113 shares of the company’s stock after buying an additional 110,918 shares during the period. Vanguard Group Inc. owned 5.36% of L Brands worth $1,034,346,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in LB. UMB Bank N A MO raised its stake in L Brands by 1.8% in the first quarter. UMB Bank N A MO now owns 3,865 shares of the company’s stock worth $339,000 after buying an additional 67 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in L Brands by 1.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 6,249 shares of the company’s stock worth $378,000 after buying an additional 99 shares during the last quarter. Allen Investment Management LLC raised its stake in L Brands by 1.0% in the first quarter. Allen Investment Management LLC now owns 11,494 shares of the company’s stock worth $1,009,000 after buying an additional 109 shares during the last quarter. Boothbay Fund Management LLC raised its stake in L Brands by 4.5% in the first quarter. Boothbay Fund Management LLC now owns 2,694 shares of the company’s stock worth $237,000 after buying an additional 117 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock worth $145,000 after buying an additional 124 shares during the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.
L Brands Inc. (NYSE:LB) traded up 0.82% during mid-day trading on Thursday, hitting $73.49. 252,796 shares of the company traded hands. The company’s 50-day moving average price is $74.24 and its 200 day moving average price is $74.48. L Brands Inc. has a one year low of $60.00 and a one year high of $101.11. The company has a market capitalization of $21.02 billion, a price-to-earnings ratio of 17.91 and a beta of 0.80.
L Brands (NYSE:LB) last released its earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The firm had revenue of $2.89 billion for the quarter. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts anticipate that L Brands Inc. will post $3.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Wednesday, August 17th. L Brands’s dividend payout ratio is presently 58.68%.
A number of research analysts have commented on LB shares. Credit Suisse Group AG reiterated a “hold” rating on shares of L Brands in a research note on Saturday, June 4th. Nomura reiterated a “hold” rating on shares of L Brands in a research note on Saturday, July 9th. Deutsche Bank AG reiterated a “buy” rating on shares of L Brands in a research note on Sunday, July 10th. Stifel Nicolaus reiterated a “buy” rating and set a $90.00 price objective on shares of L Brands in a research note on Saturday, September 3rd. Finally, Vetr upgraded shares of L Brands from a “hold” rating to a “buy” rating and set a $72.74 price objective on the stock in a research note on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $77.52.
In other L Brands news, COO Charles Mcguigan sold 23,687 shares of L Brands stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Martin P. Waters sold 45,500 shares of L Brands stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total value of $3,525,795.00. Following the completion of the transaction, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is owned by company insiders.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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