Andra AP fonden Boosts Stake in L Brands, Inc. (LB)
Andra AP fonden lifted its position in L Brands, Inc. (NYSE:LB) by 14.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,900 shares of the specialty retailer’s stock after buying an additional 7,000 shares during the period. Andra AP fonden’s holdings in L Brands were worth $2,284,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norway Savings Bank raised its stake in shares of L Brands by 0.5% in the 2nd quarter. Norway Savings Bank now owns 10,345 shares of the specialty retailer’s stock worth $557,000 after buying an additional 50 shares in the last quarter. M&T Bank Corp raised its stake in shares of L Brands by 0.3% in the 2nd quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock worth $925,000 after buying an additional 53 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of L Brands by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock worth $965,000 after buying an additional 83 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of L Brands by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock worth $803,000 after buying an additional 100 shares in the last quarter. Finally, Financial Advisors Network Inc. raised its position in shares of L Brands by 2.8% during the second quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock worth $263,000 after purchasing an additional 134 shares during the period. 80.02% of the stock is currently owned by institutional investors.
L Brands, Inc. (LB) opened at $49.66 on Friday. L Brands, Inc. has a 12-month low of $35.00 and a 12-month high of $75.50. The company has a debt-to-equity ratio of -6.25, a quick ratio of 1.05 and a current ratio of 1.68. The firm has a market capitalization of $14,095.79, a PE ratio of 15.23, a P/E/G ratio of 1.38 and a beta of 0.67.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. analysts forecast that L Brands, Inc. will post 3.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.83%. L Brands’s dividend payout ratio is presently 70.38%.
L Brands declared that its board has approved a stock repurchase plan on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other L Brands news, Director Allan R. Tessler acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was acquired at an average price of $37.00 per share, with a total value of $740,000.00. Following the transaction, the director now owns 43,342 shares of the company’s stock, valued at $1,603,654. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.68% of the stock is currently owned by insiders.
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LB has been the topic of a number of recent analyst reports. Credit Suisse Group set a $47.00 target price on L Brands and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC set a $32.00 target price on L Brands and gave the stock a “sell” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $55.00 target price on shares of L Brands in a research report on Monday, July 24th. FBR & Co reaffirmed an “outperform” rating and set a $60.00 target price on shares of L Brands in a research report on Thursday, July 27th. Finally, BidaskClub lowered L Brands from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.75.
L Brands 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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