Advisor Partners LLC bought a new position in L Brands, Inc. (NYSE:LB) during the second quarter, Holdings Channel reports. The firm bought 3,995 shares of the specialty retailer’s stock, valued at approximately $215,000.

A number of other hedge funds have also recently bought and sold shares of the company. FNY Partners Fund LP purchased a new stake in L Brands during the first quarter worth $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in L Brands during the first quarter worth $142,000. IFP Advisors Inc raised its stake in L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock worth $148,000 after buying an additional 529 shares during the period. Prospera Financial Services Inc raised its stake in L Brands by 23.1% in the first quarter. Prospera Financial Services Inc now owns 4,632 shares of the specialty retailer’s stock worth $200,000 after buying an additional 868 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its stake in L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after buying an additional 375 shares during the period. 75.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of L Brands, Inc. (NYSE LB) opened at 40.88 on Friday. The company’s 50-day moving average is $46.63 and its 200 day moving average is $50.65. The stock has a market capitalization of $11.73 billion, a P/E ratio of 10.77 and a beta of 0.62. L Brands, Inc. has a 12 month low of $40.77 and a 12 month high of $79.67.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Equities research analysts predict that L Brands, Inc. will post $3.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a yield of 5.87%. L Brands’s dividend payout ratio is presently 63.16%.

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A number of research firms recently weighed in on LB. FBR & Co reaffirmed an “outperform” rating and set a $60.00 target price on shares of L Brands in a report on Wednesday, May 31st. Vetr raised shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 price target for the company in a research note on Monday, June 19th. Jefferies Group LLC set a $35.00 price target on shares of L Brands and gave the stock a “sell” rating in a research note on Monday, July 10th. Wolfe Research cut their price target on shares of L Brands from $52.00 to $48.00 and set a “peer perform” rating for the company in a research note on Friday, July 7th. Finally, Piper Jaffray Companies set a $48.00 price target on shares of L Brands and gave the stock a “hold” rating in a research note on Monday, May 15th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.76.

In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the completion of the transaction, the chief executive officer now directly owns 75,658 shares in the company, valued at $3,698,163.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.45% of the company’s stock.

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

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