3,995 Shares in L Brands, Inc. (LB) Acquired by Advisor Partners LLC
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%.
TRADEMARK VIOLATION WARNING: “3,995 Shares in L Brands, Inc. (LB) Acquired by Advisor Partners LLC” was posted by Watch List News and is owned by of Watch List News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://www.watchlistnews.com/3995-shares-in-l-brands-inc-lb-acquired-by-advisor-partners-llc/1481011.html.
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.
Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L Brands, Inc. (NYSE:LB).
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.